Abington Bancorp Declares Cash Dividend.Abington, Mass.--(BUSINESS WIRE)--Dec. 16, 1999-- (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on NMS See NetWare Management System. :ABBK) Abington Bancorp, Inc. announced today that its Board of Directors has approved payment of a quarterly cash dividend for holders of its common stock. A dividend of $.05 per share was declared. The dividend is payable on January 13, 2000, to stockholders of record as of the close of business on December 30, 1999. Bancorp is a holding company that operates Abington 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. as a wholly-owned subsidiary. At September 30, 1999, Abington Bancorp's total assets were $656,361,000, stockholders' equity was $29,759,000 or 4.5% of assets, and book value per share was $9.09. Abington Savings Bank is a Massachusetts-chartered savings bank with deposits insured in full by the Federal Deposit Insurance Corporation Federal Deposit Insurance Corporation (FDIC), an independent U.S. federal executive agency designed to promote public confidence in banks and to provide insurance coverage for bank deposits up to $100,000. and the Depositors Insurance Fund The Depositors Insurance Fund was created by the state government of Massachusetts in response to the large number of Massachusetts bank failures during the Great Depression. The Federal Deposit Insurance Corporation was inspired by this fund. . The Bank currently operates a main office, Corporate Center and Operations Center in Abington, and ten other branches located in Brockton, Cohasset, Halifax, Hanson, Holbrook, Hull, Kingston, Pembroke, Randolph and Whitman. |
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