Shareholders must be on the books at the close of business Dec. 1 to receive the cash dividend. The stock distribution will give each shareholder 0.08 of a share for every share held.
The higher quarterly payment represents an annualized yield of about 2.9%, based on the stock’s last closing price.
The company reported third-quarter net income of $6.6 million, or $1.20 a share, up from $4.6 million, or 84 cents a share, a year earlier. The increase reflected higher loan yields, lower funding costs and a payout from bank-owned life insurance after the death of a former employee.

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