“Our yearend earnings numbers for the bank show that we had a net income of $2,128,000, which exceeds our previous earnings record of $1,912,000 in 2007.”
Marin also announced that a dividend of 20 cents per share of common stock was declared and paid on Dec. 31.
The total dividends paid for the year amounted to 40 cents per share of common stock owned.
Bank president Pete Lipari also announced that the bank has earned the Superior 5 Star rating by Bauer Financial, Inc., which is a bank rating service that is recognized throughout the banking industry for its analytical and rating services.
Patterson State Bank is a $215 million banking institution that was founded in 1925, and is one of the oldest commercial banks in the state of Louisiana.
The bank has three locations serving St. Mary Parish offering individual and commercial accounts and loans as well as internet and mobile banking services. It also has loan production offices in Lafayette and Metairie.