BankGuam Holding Company Declares Quarterly Cash Dividend on Common and Preferred Stock, Payable on December 31, 2018; Appoints John S. San Agustin as Independent Member of Board; Reappoints Lourdes A. Leon Guerrero as President & Chief Executive Officer
November 30, 2018 at 11:08 am
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On November 26, 2018, the BankGuam Holding Company's board of directors appointed John S. San Agustin (J. San Agustin) as an independent member of its board as a Class III director to fulfill the term of his predecessor, Mr. Joe T. San Agustin (Mr. San Agustin) who retired from the company effective October 31, 2018. On the same day, J. San Agustin was also appointed to the board of directors of Bank of Guam (Bank) and of BG Investment Services Inc. (BGIS), both of which are subsidiaries of the Company. Mr. J. San Agustin was also appointed to serve as a member of the Audit, Nominating and Governance, and Compensation committees of the Board of Directors of the company and the Bank and the Executive and Loan committees of the Bank. J. San Agustin is currently a partner at Morling & Company. On November 26, 2018, the Board of Directors of the Company, Bank and BGIS, reappointed Ms. Lourdes A. Leon Guerrero to her previous positions as President & Chief Executive Officer of the Company, Bank and BGIS. Ms. Leon Guerrero had been on an unpaid leave of absence since May 1, 2018, while running for the Office of the Governor of Guam. Ms. Leon Guerrero was successful in her bid for Governor of the territory of Guam and is presently the Governor-elect. She is expected to continue in her present positions with the Company, Bank and BGIS at the same levels of compensation as before her leave of absence until her contract expires with the Bank on December 31, 2018. Mr. Joaquin P.L.G. Cook, who was appointed the Interim President and Chief Executive Officer of the Company, Bank and BGIS will resume his current position as the Executive Vice President and Chief Sales & Service Officer of the Company, Bank and BGIS.
At its meeting on November 26, 2018, the Board of Directors of the company declared a quarterly cash dividend of $0.10 per share for the holders of its common stock and a dividend payment to the holders of the company's 5.50% Fixed Rate/Floating Rate Noncumulative Preferred Stock, Series A. The dividends will be paid on December 31, 2018 to shareholders of record on December 14, 2018.
BankGuam Holding Company is a Guam-based bank holding company. The Companyâs subsidiaries include Bank of Guam (the Bank), BankGuam Investment Services (BGIS) and ASC Trust LLC. The Company provides a range of banking services through the Bank. The Bank provides a range of financial services to individuals, businesses, and government entities through its branch network. The Bankâs primary deposit products are demand deposits, savings and time certificates of deposit, and its primary lending products are consumer, commercial and real estate loans. The Bank also provides many other financial services to its customers, including trade financing and trust services. The Bank operates through approximately 17 full-service branch offices. It also offers credit life, health, auto and homeownersâ insurance through BGIS, as agents for various insurance companies. BGIS is an investment company. BGIS is involved in providing investment advisory services, and trading securities for its customers.
BankGuam Holding Company Declares Quarterly Cash Dividend on Common and Preferred Stock, Payable on December 31, 2018; Appoints John S. San Agustin as Independent Member of Board; Reappoints Lourdes A. Leon Guerrero as President & Chief Executive Officer