Cornerstone Bancorp Declares Dividend and Announces Share Repurchase Program

Core Points - Cornerstone Bancorp, Inc. declared a special dividend of $2.50 per share, payable on February 5, 2025, to shareholders of record as of January 31, 2025 [1][2] - The special dividend represents a 25% payout of the unaudited earnings for 2024 [2] - The Board of Directors also authorized a share repurchase program for up to 30,000 shares of the company's common stock during 2025 [2][3] Company Overview - Cornerstone Bancorp, Inc. was founded in 2000 and operates through its wholly-owned subsidiary, Cornerstone National Bank & Trust Company, focusing on commercial banking and investment needs for families and family-owned businesses [4] - The company emphasizes investing in people and technology to provide a unique relationship experience, successfully attracting new clients as larger banks shift towards a more institutional approach [4] - Cornerstone is a leader in commercial lending services, including equipment, real estate, construction loans, and business treasury management services, as well as offering wealth management services for individuals and families [5]