Pasadena, Calif.-based CommunityBank disclosed a branch opening in Laguna Niguel in Orange County, Calif.,and increased its cash dividend to 50 cents per share.
The bank said it opened the new branch over the last severalmonths.
The dividend is payable June 1 to shareholders of record as ofMay 13. SNL data pegged the previous dividend at 48 cents per share.
In its April 29 earnings release, Community Bank reported first-quarternet income of $7.7 million, or $2.48 per diluted share.