TAMPA, Fla., Jan. 20, 2020 (GLOBE NEWSWIRE) -- First Citrus Bancorporation, Inc. (OTC Markets: FCIT), the parent bank holding company for First Citrus Bank, announced that its Board of Directors declared on January 16, 2020 a $0.40 special cash dividend per share for all holders of Common, Class A Preferred, and Class B Preferred stock. The dividend is payable on March 4, 2020 to shareholders of record as of February 18, 2020. This dividend represents a 60% increase over the special cash dividend paid during the first quarter of 2019.

"We love delivering increased cash dividends and profits to our shareholders and are especially excited to continue delivering value for our clients,” said John Barrett, President and CEO of First Citrus Bank.

About First Citrus Bancorporation, Inc.
First Citrus Bancorporation, Inc., is a Florida corporation and the parent bank holding company for First Citrus Bank, a Florida commercial bank. First Citrus Bancorporation, Inc., is headquartered in Tampa, Florida and was ranked as the second-best-performing regional bank stock in the Southeastern United States over the past three years by S&P Global Market Intelligence. Stock trades on the OTC Markets under ticker symbol “FCIT.”

About First Citrus Bank
First Citrus Bank, a $417 million commercial bank, was established in 1999 and is headquartered in Tampa. It was selected as the Greater Tampa Chamber of Commerce 2019 Small Business of the Year and ranked as one of the Top 200 Community Banks in 2019 by American Banker. Ranked as one of the Top 25 Commercial Loan Producers in the Nation by the magazine Independent Banker, it serves businesses and individuals through a range of tailored financial solutions. Specializing in retail and commercial banking services, First Citrus Bank has five locations throughout Tampa Bay.

First Citrus Bank enhances vibrancy throughout Tampa Bay by helping families become more financially secure and businesses economically successful. For additional information, please visit http://www.firstcitrus.com.

Information in this release relating to the Company’s future prospects, which are forward-looking statements, involve risks and uncertainties that could cause actual results to differ materially including, but not limited to, the following: (1) operating, legal and regulatory risks, such as continued levels of loan quality and origination volume, continued relationships with major customers and technological changes; (2) economic, political and competitive forces affecting our banking business, such as changes in economic conditions, especially in our market area, interest rate fluctuations, competitive product and pricing pressures within our market, personal and corporate bankruptcies, monetary policy and inflation; (3) our ability to grow internally or through acquisitions; and (4) the risk that management’s analyses of these risks and forces could be incorrect and/or that the strategies developed to address them could be unsuccessful. Forward-looking statements may be identified by the use of words, such as “expects,” “believe,” “will,” “intends,” “will be” or “would.” First Citrus Bancorporation assumes no obligation to update the forward-looking information in this announcement, except as required under applicable law.

For more information contact: 
John Linton, EVP & Chief Financial Officer
813.792.7177
jlinton@firstcitrus.com