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Elmira Savings Bank to pay cash dividend of 23 cents a share

By Adam Rombel


ELMIRA — The Elmira Savings Bank (NASDAQ: ESBK) board of directors has declared a quarterly cash dividend of 23 cents per share on its common shares outstanding.

The company will pay the dividend on March 28 to shareholders of record March 13. It’s the same cash-dividend amount the banking company paid in December. However, Elmira Savings also paid a 10 percent stock dividend at that time.

Elmira Savings Bank, with $509.5 million in total assets, is a state-chartered bank with six branches in Chemung County, three offices and a loan center in Tompkins County, two branches in Steuben County, one branch each in Cayuga and Schuyler counties, and one loan center each in Cortland and Broome counties.

The banking company generated $5.05 million, or $1.40 a share, in net income in 2013, compared to $5.21 million, or $1.37 per share, in 2012.


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