AP NEWS

First General Bank Declared 25% Increase in Cash Dividend

January 8, 2019

ROWLAND HEIGHTS, Calif.--(BUSINESS WIRE)--Jan 7, 2019--First General Bank, Rowland Heights, announced that its Board of Directors declared a cash dividend of $0.75 (seventy-five cents) per common share, paid on January 4, 2019, to stockholders of record at the close of business on December 31, 2018.

“This is First General Bank’s ninth consecutive annual cash dividend in the Bank’s history,” noted President and Chief Executive Officer Cliff Hsu. “The Bank continued to achieve record high pretax earnings in 2018. Our strong capital position, stability of our earnings, and positive outlook allow us to provide an increase of dividend payment by 25%, as compared to last year, while also preserving financial and operational resources to grow the bank, and enhancing value for shareholders.”

About First General Bank

First General Bank, founded in 2005, had total assets of approximately $947 million as of December 31, 2018. First General Bank is headquartered in Rowland Heights, California, with branches in Arcadia, Cerritos, Irvine, Rowland Heights, and San Gabriel, California. First General Bank focuses on personalized service, combined with a full range of conventional and online core consumer and commercial banking products and cash management services for small to medium sized businesses and individuals residing or doing business in southern California.

Forward Looking Statement

This document contains forward-looking statements that involve risks, uncertainties and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any projections of synergies, accretion or other financial items; any statements regarding future economic conditions or performance; any statements of belief and any statements of assumptions underlying any of the foregoing.

Readers are cautioned not to unduly rely on the forward-looking statements. Actual results may differ from those projected. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190107006112/en/

CONTACT: First General Bank

Hoi Luk, Executive Vice President

626-363-8878

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE INSURANCE

SOURCE: First General Bank

Copyright Business Wire 2019.

PUB: 01/07/2019 09:17 PM/DISC: 01/07/2019 09:17 PM

http://www.businesswire.com/news/home/20190107006112/en

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