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Progress Financial Corporation Declares Dividend

Progress Financial Corporation Declares Dividend

January 24, 2022 — Progress Financial Corporation, the parent company of Progress Bank, announced its Board of Directors has declared a special one-time cash dividend of $0.25 per share. Approved at the recent January Board Meeting, the dividend will be payable on February 15, 2022, for shareholders of record on January 31, 2022.

“Our Progress Bank team contributed tremendously to the success of the bank in 2021. I’m so proud of the way everyone met the challenges this year has brought, while keeping our clients’ needs at the utmost of priority,” said David Nast, President and CEO. “The bank’s performance has been exceptional given the arduous environment all businesses are navigating. The Board’s approval of an increase in the annual dividend confirms our confidence in 2022 and the future,” said Chairman of the Board of Directors, Charlie Vaughn.

Progress Bank was opened in February of 2008 and has grown to more than $1.8 billion in total assets with 13 locations in Alabama and Florida. Progress also operates mortgage and financial services divisions that create a full-service banking experience for its clients.

About Progress Financial Corporation Progress Financial Corporation is a bank holding company that operates banking offices in Alabama and Florida through Progress Bank, an Alabama state chartered commercial bank, Member FDIC, headquartered in Huntsville with offices in Alabama (Birmingham, Daphne, Decatur, Florence, Huntsville, Jones Valley, Madison, Tuscaloosa, Vestavia) and Florida (Destin, Inlet Beach, Panama City, Santa Rosa Beach). The bank is a full-service financial institution offering commercial, consumer, wealth management/investment services and mortgage banking services. Visit our corporate website at to learn more. Equal Housing Lender. NMLS# 401921. Forward-Looking Statements This press release contains statements that constitute forward-looking statements within the meaning of the securities laws. Forward-looking statements include all statements that do not relate solely to historical or current facts, including statements regarding future operating and/or financial results, performance and achievements. Any such forward-looking statements only reflect management’s expectations based on information currently available and are not guarantees of future performance or results. Actual results, performance and achievements may differ materially from those expressed in or implied by such forward-looking statements as a result of known and unknown factors. Specifically, with respect to statements relating to growth and earnings potential, expansion and investor returns, these factors include economic conditions and growth generally and in the markets served by the bank; competition and the availability of quality borrowers and depositors in the markets served by the bank; changes in regulations affecting the bank; and the ability of the bank and its management to execute and implement business and expansion plans. Any forward-looking information provided in this press release represents management’s outlook only as of the date hereof, and the bank undertakes no obligation to update or revise any forward-looking statements to reflect events or developments after such date.

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