ASB Holding Company Announces Improved Annual Earnings and Cash Dividend.BLOOMFIELD, N.J. -- Joseph Kliminski, President of ASB ASB Asbestos ASB Arbeiter Samariter Bund (German medical help organisation) ASB Anti-Social Behaviour ASB Accounting Standards Board (UK FRC) ASB Aarhus School of Business Holding Company (the "Company"), the holding company of American Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. of NJ (the "Bank") and ASB Investment Corp, announced today that the Company's Board of Directors has declared a special cash dividend of $0.75 per share to stockholders of record as of December 6, 2004 payable on or about December 20, 2004. Seventy percent of the stock of the Company is owned by American Savings, MHC MHC major histocompatibility complex. MHC abbr. major histocompatibility complex MHC major histocompatibility complex. , a Federal mutual holding company (the "MHC"). This is the Company's first dividend since completing its minority stock offering on October 3, 2003. Mr. Kliminski indicated that the cash dividend is being paid to provide a return to stockholders, after considering the equity and profitability of the Company and the Bank. The payment of future dividends will be subject to the Board's periodic review of the financial condition, earnings, and capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. of the Company and the Bank. The Company also announced earnings of $2,162,000 for the year ended September 30, 2004, up $759,000 or 54.1% from $1,403,000 for the year ended September 30, 2003. At September 30, 2004, the Company had total assets and stockholders' equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. of approximately $424.9 million and $39.3 million, respectively. At September 30, 2004 the Company had total deposits of approximately $322.7 million and $309.0 million of loans, net. American Savings Bank is a federally chartered stock savings bank which conducts its business from its main office in Bloomfield, New Jersey and one branch office in Cedar Grove, New Jersey. The Company's common stock is traded on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. under the symbol "ASBH ASBH American Society for Bioethics and Humanities ." The foregoing material contains forward-looking statements concerning the financial condition, results of operations and business of the Company. We caution that such statements are subject to a number of uncertainties and actual results could differ materially, and, therefore, readers should not place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. |
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