BERLIN, MD / ACCESSWIRE / April 19, 2024 / Calvin B. Taylor Bankshares, Inc. (OTCQX:TYCB), parent company of Calvin B. Taylor Bank, announced the Board of Directors has declared a regular quarterly cash dividend of $0.35 per share for the first quarter of 2024 which is an increase of $0.01 per share, compared to the prior quarter. This dividend is payable on May 2, 2024 to stockholders of record as of the close of business on April 22, 2024.

Raymond M. Thompson, President and Chief Executive Officer commented, "The Company experienced strong earnings performance during the 1st quarter of 2024. Persistent U.S. inflation suggests that the Federal Open Market Committee will delay previously forecasted interest rate decreases until late summer or early fall 2024. The Company's liquidity, asset quality and capital metrics remain healthy and stable. The dividend increase this quarter reflects the Board's ongoing commitment to stockholders by providing a consistent and sustainable return on investment."

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About Calvin B. Taylor Bank
Calvin B. Taylor Bank, the bank subsidiary of Calvin B. Taylor Bankshares, Inc. (OTCQX: TYCB), founded in 1890, offers a wide range of loan, deposit, and ancillary banking services through both physical and digital delivery channels. Calvin B. Taylor Bank has 11 banking locations within the eastern coastal area of the Delmarva Peninsula including Worcester County, Maryland, Sussex County, Delaware and Accomack County, Virginia.

Contact
M. Dean Lewis, Executive Vice President and Chief Financial Officer
410-641-1700, taylorbank.com

SOURCE: Calvin B. Taylor Bankshares, Inc.