CCB Bankshares Inc. Declares Third Annual Cash Dividend

SOUTH HILL, Va., Dec. 1, 2016 /PRNewswire/ -- CCB Bankshares Inc. (OTCQB: CZYB) is pleased to announce that at its meeting on November 16, 2016, the Board of Directors of CCB Bankshares Inc., the holding company for Citizens Community Bank, declared an annual cash dividend of $0.09 per share to common shareholders of record on December 5, 2016, payable on January 17, 2017. 

James R. Black, President and Chief Executive Officer, commented, "We are gratified that we can reward our shareholders with this dividend."  The $0.09 per share dividend is an increase of $0.02 or 28.6% over 2015.

CCB Bankshares Inc. is a holding company formed in 2015 under the laws of the Commonwealth of Virginia, with Citizens Community Bank ("CCB") as its primary subsidiary.   CCB is a Virginia state-chartered bank headquartered in South Hill, Virginia.  Opened in December 1999, it operates six branches, three in south central Virginia, and three in northern North Carolina.   For more information and additional financial data, please visit www.myccb.bank.

This press release contains "forward-looking statements" that concern future events which are subject to risks and uncertainties.  Any such statements are based on certain assumptions and analyses by the Company and other factors it believes are appropriate in the circumstances and at the time at which such statements are made.  The Company's actual results, events and developments may differ materially from those contemplated by any forward-looking statement.  The Company has no responsibility to update such forward-looking statements.

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SOURCE CCB Bankshares, Inc.