Ertugrual Osman, the 43rd Head of the dethroned House of Osman and regarded by Turks as the “last Ottoman,” died last week at age 97.
Born in Istanbul in 1912, Osman spent most of his life living modestly in New York, according to The BBC.
Officials with the Bank of South Carolina Corp. have opted to temporarily suspend the company’s third-quarter cash dividend, saying it will put the money toward its loan-loss reserves, according to The Charleston Post and Courier.
Executives said they expect to reinstate the dividend in the fourth quarter. The community bank had been paying a quarterly dividend of 16 cents per share.
“After a long-term evaluation of our significant loan and deposit growth, the economy, and listening to regulator expectations, we decided that additional funding to the provision for loan losses is the proper strategy in today’s environment,” Chief Executive Hugh C. Lane, Jr. said in a statement. ”This action is voluntary, and will further strengthen the position of the company today and into the future.”