VSB Bancorp, Inc. Announces Cash Dividend

STATEN ISLAND, N.Y., June 10, 2015 /PRNewswire/  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 $0.06 per share payable on July 1, 2015 to stockholders of record on June 19, 2015. Joseph J. LiBassi, Chairman of the Board of Directors, stated, We are pleased to announce our thirty-first consecutive cash dividend.  Our loan portfolio is growing, as well as our loan pipeline. We anticipate that our net interest income will grow throughout 2015. Raffaele M. Branca, President and Chief Executive Officer, reported, Our dividend payout ratio is 43.7% on first quarter 2015 earnings.  Our net income in the first quarter of 2015 did not fully reflect the growth of the loan portfolio, as much of the increase in loans occurred in the month of March.  New York City has enacted tax law changes similar to New York State.  This will result in a one-time negative adjustment
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