Luxemburg Bancshares Inc. is declaring a special, one-time additional dividend of $0.50 per share this year, to be paid on Dec. 29, 2020.
“During the 25 years I have worked at the bank, this is the first time that a special dividend such as this has been paid,” Bank of Luxemburg President Tim Treml said in making the announcement.
The announcement follows months of perseverance on behalf of the bank and its employees, Treml said. During this time, Bank of Luxemburg’s Commercial Loan Department assisted 520 local businesses by providing $30 million of Paycheck Protection Program loans.
The Mortgage Department helped 579 customers refinance their mortgage with a new lower rate or obtain the home of their dreams. The Retail Department processed all teller transactions via the drive-through window. The Customer Care Center guided customers online and performed transactions over the phone. All of this was accomplished while the majority of employees worked from home.
“I would have never thought a bank could operate this way in my wildest dreams,” Treml said. “Yet the Bank of Luxemburg took on this challenge with a positive spirit, always with our community needs in mind, which also resulted in a successful year for the bank.”