Noah Bank Declares 10% Stock Dividend

ELKINS PARK, Pa., July 13, 2017 /PRNewswire/ -- The Board of Directors of Noah Bank today announced the declaration of a 10% stock dividend payable on August 1, 2017 to shareholders of record on July 27, 2017.  Edward E. Shin, CEO of Noah Bank stated, "Noah Bank has made substantial progress over the past year.  We are pleased to provide this return to our shareholders." 

As of June 30, 2017, Noah Bank had assets of approximately $341 million, deposits of approximately $287 million and loans of approximately $281 million.

Chairman of the Board Young Man Kim stated that "This dividend is a sign that our Board has confidence in Noah Bank's future performance."

About Noah Bank

With its legal headquarters in Elkins Park, PA, Noah Bank is a Pennsylvania-chartered bank that was launched in 2004.  At that time, Noah was named "Royal Asian Bank, a Noah Bank", and changed its name to "Noah Bank" in 2011.  Operational headquarters are in Fort Lee, New Jersey.  Noah Bank provides banking products and services to businesses and consumers primarily in the Asian-American communities of Southeastern Pennsylvania, Northern New Jersey, Manhattan, New York and Flushing, New York.  More information is available at www.noahbank.com.

Forward-Looking Statements

The foregoing material may contain forward-looking statements. Noah Bank cautions readers not to place undue reliance on these statements.  Noah Bank's business and operations are subject to a variety of risks, uncertainties and other factors. Consequently, actual results and experience may materially differ from those contained in any forward-looking statements. Such risks, uncertainties and other factors that could cause actual results and experience to differ from those projected include, but are not limited to, the following: difficult conditions in the capital markets and the economy generally, regulatory requirements or other actions mandated by Noah Bank's regulators, recent and ongoing changes to the state and federal regulatory schemes under which Noah Bank and other financial services companies operate (including the Dodd-Frank Act and regulations adopted or to be adopted to implement that Act), any changes in SBA loan programs and our ability to comply with SBA policies and procedures, the effect of credit risk exposure, the ability to strategically manage our capital position and to raise capital, allowance for loan losses may prove inadequate, variations in interest rates, the geographic concentration of Noah Bank's operations, declines in the value of Noah Bank's assets and the effect of any resulting impairment charges, competition for personnel from other financial institutions, interruptions or breaches of Noah Bank's security systems, the development and maintenance of Noah Bank's information technology, potential dilution of Noah Bank's shareholders, the ability of Noah Bank and its subsidiaries to pay dividends, severe weather and natural disasters, and the nature and frequency of litigation and other similar proceedings to which Noah Bank may be a party. Noah Bank makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances occurring or existing after the date any forward-looking statement is made.

SOURCE Noah Bank

Related Links

http://www.noahbank.com