Progress Financial Corporation, the parent company of Progress Bank
, announced its Board of Directors has declared a special one-time cash dividend of $0.25 per share. Approved at the recent January Board Meeting, the dividend will be payable on Feb 15, 2022, for shareholders of record on Jan. 31, 2022.
“Our Progress Bank team contributed tremendously to the success of the bank in 2021. I’m so proud of the way everyone met the challenges this year has brought, while keeping our clients’ needs at the utmost of priority,” said David Nast, President and CEO.
“The bank’s performance has been exceptional given the arduous environment all businesses are navigating. The Board’s approval of an increase in the annual dividend confirms our confidence in 2022 and the future,” said Chairman of the Board of Directors, Charlie Vaughn.
Progress Bank was opened in February of 2008 and has grown to more than $1.8 billion in total assets with 13 locations in Alabama and Florida. Progress also operates mortgage and financial services divisions that create a full-service banking experience for its clients.