Cornerstone Bancshares, Inc., parent company of Cornerstone Community Bank, Tuesday announced payment of its next quarterly dividend on May 15, to all preferred shareholders of record as of Dec. 31. This marks the twelfth consecutive quarter that a dividend has been paid on the Series A Convertible Preferred security, based on positive earnings in preceding quarters.
“We are pleased to be able to deliver this return on investment to our Preferred shareholders,” said Cornerstone’s Chairman Miller Welborn. “As our earnings footprint continues to strengthen and improve, we look forward to rewarding all of our Cornerstone stakeholders for their unwavering support.”
Cornerstone is a single-bank holding company, with approximately $430 million in assets, serving the Chattanooga MSA, with five branches throughout Chattanooga and one loan production office in Dalton. Locally owned and locally operated, Cornerstone specializes in providing a comprehensive range of customized financial solutions for businesses and individuals.