LOS ANGELES--(EON: Enhanced Online News)--Pacific City Financial Corporation (OTC Pink: PFCF), the holding company of Pacific City Bank, today announced that its Board of Directors of the Company declared a ten percent (10%) stock dividend on the Company’s common stock. The stock dividend is payable on or about January 17, 2017 (the “Payable Date”) to common shareholder of record on December 30, 2016 (the “Record Date”). In accordance with Section 407 of the California Corporations Code, the Company shall pay in cash the fair value of fractions of a share as of the Record Date to the respective shareholders who are otherwise entitled to a fractional share in lieu of such fractional share.
“We are pleased to declare our third 10% stock dividend in as many years in addition to cash dividends we have been paying as part of our ongoing efforts to benefit our shareholder. We continue to be committed in diligently managing of our capital for the long-term benefit of our shareholders,” said Haeyoung Cho, President and CEO.
About Pacific City Financial Corporation
Headquartered in Los Angeles, California, Pacific City Financial Corporation is the parent company of Pacific City Bank, a full-service commercial bank with twelve branch offices and eight loan production offices in Lynwood and Bellevue, Washington; Denver, Colorado; Chicago, Illinois; Annandale, Virginia; Atlanta, Georgia; Orange County, California; and Bayside, New York. Pacific City Bank specializes in commercial banking for small to medium-size businesses by providing commercial real estate loans, small business loans and lines of credit, trade finance loans, auto loans, residential mortgage loans, and SBA loans. Pacific City Bank serves a diverse customer base through its branches in the Greater Los Angeles Area and Fort Lee, New Jersey and its Loan Production Offices in seven States.