Note 20 - Capital Transactions

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

Note

20.

Capital Transactions

The ability to pay cash dividends to common stockholders is limited by regulatory restrictions and the need to maintain sufficient capital in the Company and in our subsidiaries. The Company must consider different factors to ensure that any future cash dividends to common stockholders would be prudent relative to the organization’s financial position and

not

based on overly optimistic earnings scenarios. The Company had

$7.0

million of retained earnings at

December 31, 2018. 

On

May 15, 2018

at the annual shareholders meeting the Board of Directors declared the Company’s

first

cash dividend.  The cash dividend of

$0.04

per common share was paid on

June 15, 2018

to shareholders of record on

May 31, 2018

.

The Board declared cash dividends of

$0.04

per common share for each of the

three

subsequent quarters.