RESTON, Va.--(BUSINESS WIRE)--
WashingtonFirst Bankshares, Inc. (the "Company") (NASDAQ: WFBI) today
announced that its Board of Directors declared a cash dividend of four
cents ($0.04) per share payable on July 1, 2014, to stockholders of
record as of June 10, 2014. The dividend payout will be approximately
$309,000, on 7.7 million shares of voting and non-voting common stock.
While the Company expects to continue to declare and pay quarterly cash
dividends in the future, any such dividend would be at the discretion of
the Board of Directors of the Company and would be subject to applicable
federal and state regulatory limitations.
About The Company
WashingtonFirst Bankshares, Inc. is headquartered in Reston, Virginia
and is the holding company for WashingtonFirst Bank, which commenced
operations in 2004. WashingtonFirst Bank, which focuses on providing
quality, tailored services to its customers, conducts a full service
commercial banking operation through 16 branches, with ten located in
Northern Virginia, four in Maryland and two in the District of Columbia.
The Company recently reported unaudited consolidated net income to
common shareholders for the three months ended March 31, 2014 of $1.6
million or $0.20 per common share. The Company's common stock is traded
on the NASDAQ Stock Market under the quotation symbol "WFBI" and is
included in the ABA NASDAQ Community Bank Index. For more information
about WashingtonFirst Bank or The Company, please visit: www.wfbi.com.
Cautionary Statements About Forward-Looking Information
Statements in this news release regarding future events, performance or
results are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995, including statements
of the goals, intentions, and expectations of the Company as to future
trends, plans, events, results of operation and general economic
condition. In some cases, forward-looking statements can be identified
by use of words such as "may," "will," "anticipates," "believes,"
"expects," "plans," "estimates," "potential," "continue," "should," and
similar words or phrases. Readers are cautioned against placing undue
reliance on these statements. Actual events or results could be
materially different from those expressed or implied by the
forward-looking statements. The ability of the Company to declare and
pay future dividends depends on a number of factors, including but not
limited to: Board of Directorsí and regulatory approval, regulatory
capital requirements, future earnings and cash flow of the Company,
regulatory changes and general economic conditions, our ability to
successfully manage and integrate any assets, liabilities, customers,
systems, and management personnel we have acquired or may in the future
acquire into our operations and our ability to realize related revenue
synergies and cost savings within expected time frames and any goodwill
charges related thereto. Additional factors that could cause actual
events or results to differ materially are disclosed in the Company's
recent filings with the Securities and Exchange Commission, including
but not limited to its Annual Report on Form 10-K, Quarterly Report on
Form 10-Q, and Current Reports on Form 8-K. Forward-looking statements
are accurate only as of the date released, and we do not undertake any
responsibility to update or revise any forward-looking statements to
reflect subsequent events or circumstances.
WashingtonFirst Bankshares Inc.
Matthew R. Johnson, 703-840-2422
Vice President & Chief Financial Officer
Source: WashingtonFirst Bankshares, Inc.