StellarOne Net Income Rises 30 Percent In Fourth Quarter

Posted: February 6, 2013

 CHARLOTTESVILLE — StellarOne Corp. (Nasdaq:STEL), the parent company of StellarOne Bank, announced on Tuesday net income of $6.2 million, or 27 cents net income per diluted common share, for last year’s fourth quarter. The gain represents a 30.4 percent increase over the same quarter in 2011.

Full year 2012 earnings available to common shareholders were $22.2 million or 96 cents per diluted common share, up 65 percent from 2011.

Also on Tuesday, the board of directors for StellarOne approved a quarterly cash dividend of 8 cents per share, payable on Feb. 25 to shareholders of record as today.

The payment represents an annual yield to shareholders of approximately 2.3 percent based on the closing price of StellarOne stock on Jan. 24.

StellarOne Bank operates more than 50 branches in Virginia, including several in the central Valley.
— Staff Report