Hemet Bancorp Announces Quarterly Dividend and Third Quarter Earnings

October 27, 2023

Hemet Bancorp, parent company of HCN Bank, is pleased to announce a cash dividend of $3.25 per share of common stock. The dividend will be paid to shareholders of record as of October 26, 2023. The disbursement to shareholders has been processed today.

The company also reports strong third quarter financial results, with unaudited net income of $16,938,000 year-to-date, an increase of 8.67% from $15,585,000 in the same period of the prior year. This notable increase reflects HCN Bank's improved margins and the consistent performance of our loan portfolio, which reported non-performing loans at 0.00%.

As of September 30, 2023, total assets were $920.6 million, compared to $971.3 million at the end of last year. Moreover, total stockholders’ equity increased from $83.2 million to $88.8 million during the first three quarters of 2023, indicating a solid growth in the company's financial health.

We appreciated your continued support of Hemet Bancorp.

About HCN Bank:

HCN Bank, formerly known as The Bank of Hemet, is a full-service community bank that has been serving the Hemet community since 1974. With a commitment to personalized service, innovative solutions, and strong community relationships, HCN Bank offers a comprehensive range of financial services to individuals, businesses, and organizations.