GASTONIA, N.C., Jan. 20 /PRNewswire-FirstCall/ -- Kim S. Price, President and Chief Executive Officer of Citizens South Banking Corporation , announced today that the Company's Board of Directors has declared a cash dividend of eight and one half cents ($0.085) per share of common stock. The Company has paid cash dividends in each of the 43 quarters since the Company's conversion to public ownership. The dividend will be payable to stockholders of record as of February 1, 2009, and will be paid on February 15, 2009.
Citizens South Banking Corporation is the parent corporation for Citizens South Bank, which was established in 1904 and is headquartered in Gastonia, North Carolina. The Bank has 15 full-service banking offices located in the Charlotte, North Carolina region. At December 31, 2008, the Company had consolidated assets of $817 million, outstanding loans of $627 million, total deposits of $581 million and stockholders' equity of $105 million.
