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Stock Information

Stockholder Communications

Mid-Year 2018 Stockholder Letter

August 6, 2018

Dear Stockholder:

Attached please find the earnings release for Calvin B. Taylor Bankshares, Inc., and its subsidiary Calvin B. Taylor Banking Company of Berlin, MD for the six months ending June 30, 2018.  Financial highlights including mid-year 2018 operating results are summarized and discussed in the exhibit.  We are pleased to announce that through June 30, 2018 the Bank is experiencing outstanding performance as highlighted below. 

Average assets increased to $511,563,261, or 5.54% higher, as compared to $484,702,854 through June 30, 2017

  • Net income increased to $3,433,017, or 26.31% higher, as compared to $2,718,031 through June 30, 2017
  • Earnings per share increased to $1.22, or 27.08% higher, as compared to $0.96 through June 30, 2017
  • Return on Average Assets (ROA) increased to 1.34% as compared to 1.12% through June 30, 2017
  • Return on Average Equity (ROE) increased to 8.26% as compared to 6.71% through June 30, 2017

Other noteworthy bank achievements through June 30, 2018 as are as follows:

As a result of U.S. corporate income tax reform enacted in late December 2017, the bank declared and paid a special dividend of $0.25 cents per share to stockholders on May 1, 2018.   

  • The bank celebrated the one year anniversary of our Chincoteague, Virginia branch on April 20, 2018
  • Sherry L. Tarr joined the bank as Vice President, Relationship Officer on May 29, 2018.  Ms. Tarr brings with her years of banking experience on Chincoteague Island, and this strategic hire “completes the roster” for our Chincoteague staff. 
  • The bank continues to improve its online and digital presence, and has launched an Instagram page as an additional delivery channel for marketing and promotional activities. 

At our annual stockholder meeting on May 9, 2018, long-serving Directors Joseph E. Moore and John H. “Jack” Burbage, Jr. retired from the Board, having reached mandatory retirement age as prescribed by the company’s By-Laws.   Distinguished service by any measure, Joe served as Director for 41 years, and Jack served as a Director for 31 years.  During the meeting, Joe and Jack each received personalized Board Resolutions electing them Director Emeritus.  Along with the well-deserved accolades memorialized in their respective Board Resolutions, we again wish to thank Joe and Jack for their combined 72 years of dedicated service to our customers, employees and stockholders.      

This communication constitutes our second mid-year update to stockholders which is distributed via email only.  This communication is in addition to the annual dividend communication and the Annual Report our stockholders are accustomed to receiving via regular mail. 

In addition to this mid-year update and other referenced communications, we wish to remind stockholders that quarterly financial reports are available at any time through the bank’s website at www.taylorbank.com.  Once on our website, stockholders may click on the “Investor Relations” tab, then the “Financial Information” tab to retrieve the bank’s most recent financial information.  Stockholders may also visit www.otcmarkets.com at any time, and enter our ticker symbol TYCB, to retrieve “real time” stock price information as well as the bank’s most recent financial reports and press releases. 

On behalf of the Board of Directors, Officers, and Employees, we wish to thank all stockholders for your continued interest and support of the bank.  Should you have any questions about this communication, or any other topic, please contact me at 410-641-1700, or by email at rthompson@taylorbank.com.

 

Sincerely,

Raymond M. Thompson
President and Chief Executive Officer

 

Quotes

The ticker symbol for Calvin B. Taylor Bankshares, Inc. stock is “TYCB”.  TYCB stock is publicly traded and currently trades over-the-counter on the OTCQX Banks stock market.  For the latest stock trade information and current quotes for buying or selling TYCB stock please visit the OTC Markets website using the link provided below.  

OTC Markets TYCB Quote

Transfer Agent

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Direct Dividend Deposit Authorization Agreement

Stock Repurchase Program

The Board of Directors has authorized the repurchase and retirement of up to 300,050 shares of TYCB stock.  The timing and amount of repurchases, if any, will depend on market conditions, share price, trading volume and other factors, and there is no assurance that the corporation will repurchase any shares.  The corporation may acquire the shares from time to time in open market transactions, via privately negotiated transactions, in block purchases or otherwise, and may suspend the repurchase program at any time.

Contact an Executive Officer for additional information about stock repurchases or any other Investor Relations matter.

These products are not FDIC-Insured or Bank Guaranteed. These products are subject to investment risks, including possible loss of the principal amount invested.

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