POTOMAC BANCSHARES, INC. DECLARES 11.1% INCREASE TO QUARTERLY DIVIDEND

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Jul 20, 2023, 16:05 ET

CHARLES TOWN, W.Va., July 20, 2023 /PRNewswire/ -- The Board of Directors of Potomac Bancshares, Inc. (the "Company") (OTC:PTBS), the one bank holding company for Bank of Charles Town (BCT), declared at their July Board meeting a quarterly dividend of $0.10 per share, an 11.1% increase from the previous quarter's dividend of $0.09. The dividend is for all shareholders of record on August 4, 2023, and will be paid on August 11, 2023.

"We are extremely pleased with this announcement that we can raise our dividend from $0.09 per share to $0.10 per share, an 11.1% increase," said Alice P. Frazier, President and CEO. "This dividend increase is important to our shareholders and reflects the consistent success we are having executing on our strategic goals."

About the Company

Founded in 1871, BCT - Bank of Charles Town, also known as The Community's Bank, is a wholly owned subsidiary of Potomac Bancshares, Inc. (OTC:PTBS). With approximately $792 million in assets as of March 31, 2023, the Company conducts operations through its main office, an additional eight branch offices, and two loan production offices. BCT's offices are located in Jefferson and Berkeley Counties (WV), Washington County (MD), and Loudoun and Stafford Counties (VA). The Bank provides various banking products and services including free access to over 55,000 ATMs through the Allpoint^® network plus online and mobile banking for individuals, businesses, and local governments. The Bank also offers commercial lines and term loans, residential and commercial construction, commercial real estate loans and agricultural loans. The Residential Lending division offers secondary market and portfolio mortgage loans, one-time close construction to perm loans, as well as home equity loans and lines of credit. For over 65 years, BCT Wealth Advisors has provided financial management, investment, trust, and estate services to its clients. In 2023, American Banker selected BCT as a "Top 200 Community Bank," an annual listing of the best performing banks in the United States with assets under $2 billion. BCT was voted "Best of the Best" winner in the 2022 Journal-News Readers' Choice Awards in three categories: Bank, Loan Services, and Financial Planning. In 2019, 2020, and 2021 the Bank was named a "Best Bank To Work For" by American Banker.

The Company's shares are quoted on the OTC Pink Sheet marketplace under the symbol "PTBS." For more information about Potomac Bancshares, Inc., and the Bank, please visit our website at www.mybct.bank.

SOURCE Potomac Bancshares, Inc.