News & Videos - VSB BANCORP INC. VSBN

STATEN ISLAND, NY / ACCESSWIRE / April 28, 2020 / VSB Bancorp, Inc. (OTCQX:VSBN) reported net income of $518,412 for the first quarter of 2020, a decrease of $121,589, or 19.0%, from the first quarter of 2019. The Covid-19 Pandemic We need hardly say that the COVID-19 Pandemic that has gripped the entire world for the past few months has had a major adverse effect on the economy in general and on our primary market, Staten Island, in particular. Many people are out of work, businesses have...

STATEN ISLAND , NY / ACCESSWIRE / March 20, 2020 / The Board of Directors of VSB Bancorp, Inc. (OTCQX:VSBN), the holding company for Victory State Bank, has declared a quarterly cash dividend of $0.15 per share, payable on April 1, 2020 to stockholders of record on March 20, 2020. Joseph J. LiBassi, Chairman of the Board of Directors, stated, "We are pleased to announce our fiftieth consecutive cash dividend. Our earnings allow us to continue to employ this strategic option." Raffaele M. Branca,...

STATEN ISLAND, NY / ACCESSWIRE / March 20, 2020 / Because of the worldwide COVID-19 pandemic, the Board of Directors of VSB Bancorp, Inc. (OTCQX:VSBN) has determined that it is in the best interests of its stockholders to delay the special meeting of stockholders of VSB Bancorp to vote on the merger with Northfield Bancorp, from April 28, 2020 until June 23, 2020. Statements contained in this press release, which are not historical facts, are forward -looking statements, as defined in the...

STATEN ISLAND, NY / ACCESSWIRE / January 17, 2020 / VSB Bancorp, Inc. (OTCQX:VSBN) reported net income of $723,305 for the fourth quarter of 2019, a decrease of $294,508, or 28.9%, from the fourth quarter of 2018. The decrease in net income was primarily attributable to a decline in loan yield and a decline in average earning assets, which manifested itself in a reduction in the average volume of investment securities. The following unaudited figures were released today. Pre-tax income was...

STATEN ISLAND , NY / ACCESSWIRE / December 11, 2019 / VSB Bancorp, Inc. (OTCQX:VSBN), the holding company for Victory State Bank, announced today that its Board of Directors has declared a quarterly cash dividend of $0.15 per share, payable on January 2, 2020, an increase of 15%, to stockholders of record on December 20, 2019. Joseph J. LiBassi, Chairman of the Board of Directors, stated, "We are pleased to announce our forty-ninth consecutive cash dividend. We increased the quarterly cash...

STATEN ISLAND, NY / ACCESSWIRE / October 9, 2019 / VSB Bancorp, Inc. (OTCQX:VSBN) reported net income of $1,179,828 for the third quarter of 2019, an increase of $538,892, or 84.1%, from the third quarter of 2018. The increase in net income was primarily attributable to the recognition of $370,000 in net tax benefit in the third quarter of 2019, due to recapture of our deferred tax allowance and the re-establishment of deferred taxes for state and local income taxes, which resulted in a dollar...

STATEN ISLAND, NY / ACCESSWIRE / September 10, 2019 / VSB Bancorp, Inc. (OTCQX:VSBN), the holding company for Victory State Bank, announced today that its Board of Directors has declared a quarterly cash dividend of $0.13 per share, payable on October 1, 2019, to stockholders of record on September 20, 2019. Joseph J. LiBassi, Chairman of the Board of Directors, stated, “We are pleased to announce our forty-eighth consecutive cash dividend. We have just opened our sixth branch at 2055 Victory...

STATEN ISLAND, NY / ACCESSWIRE / July 10, 2019 / VSB Bancorp, Inc. (OTCQX: VSBN) reported net income of $869,365 for the second quarter of 2019, an increase of $175,333, or 25.3%, from the second quarter of 2018. The following unaudited figures were released today. Pre-tax income was $1,114,556 in the second quarter of 2019, compared to $938,228 for the second quarter of 2018. Net income for the quarter was $869,365, or basic income of $0.48 per common share, compared to net income of $694,032...

STATEN ISLAND, NY / ACCESSWIRE / June 12, 2019 / VSB Bancorp, Inc. (OTCQX: VSBN), the holding company for Victory State Bank, announced today that its Board of Directors has declared a quarterly cash dividend of $0.13 per share, payable on July 1, 2019, to stockholders of record on June 21, 2019. Joseph J. LiBassi, Chairman of the Board of Directors, stated, "We are pleased to announce our forty-seventh consecutive cash dividend. Additionally, we have increased our quarterly dividend by 8.3%, or...

STATEN ISLAND, NY / ACCESSWIRE / April 24, 2019 / VSB Bancorp, Inc. (OTCQX: VSBN), the holding company for Victory State Bank, announced today the results of its Annual Meeting held on April 23, 2019. Mr. LiBassi, Ms. Nerlino Caddell and Mr. Moore were re-elected as directors, with over 92% of the votes cast, for additional three year terms. The Honorable Gigante was elected as a director, with over 96% of the votes cast, for a one-year term. The stockholders also approved, on an advisory basis,...

STATEN ISLAND, NY / ACCESSWIRE / April 10, 2019 / VSB Bancorp, Inc. (OTCQX: VSBN) reported net income of $640,001 for the first quarter of 2019, a decrease of $263,781, or 29.2%, from the first quarter of 2018. The following unaudited figures were released today. Pre-tax income was $827,397 in the first quarter of 2019, compared to $1,158,657 for the first quarter of 2018. Net income for the quarter was $640,001, or basic income of $0.36 per common share, compared to a net income of $903,782, or...

STATEN ISLAND, NY / ACCESSWIRE / March 13, 2019 / VSB Bancorp, Inc. (OTCQX: VSBN), the holding company for Victory State Bank, announced today that its Board of Directors has declared a quarterly cash dividend of $0.12 per share, payable on April 1, 2019, to stockholders of record on March 22, 2019. Joseph J. LiBassi, Chairman of the Board of Directors, stated, "We are pleased to announce our forty-sixth consecutive cash dividend. "We believe that our cash dividends supplement the value we...

STATEN ISLAND, NY / ACCESSWIRE / February 15, 2019 / Victory State Bank and VSB Bancorp, Inc. (OTCQX: VSBN) announced that Robert J. Gigante, a recently retired judge, has been elected to their Boards of Directors. Mr. Gigante, 70, just retired as the Surrogate Court Judge for Richmond County in 2018 and was formerly a Supreme Court Judge. Mr. Gigante graduated with a Bachelor of Arts Degree from University of Dayton in 1969, and a Juris Doctor Degree from Ohio Northern University School of Law...