Abington Bancorp declares cash dividend.ABINGTON, Mass.--(BUSINESS WIRE)--June 26, 1997-- Abington Bancorp Inc. (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 :ABBK) announced today that its board of directors has approved payment of a quarterly cash dividend for holders of its common stock. A dividend of $.10 per share was declared. The dividend is payable on July 24, 1997 to stockholders of record as of the close of business on July 10, 1997. 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 March 31, 1997 Abington Savings Bank's total assets were $492,058,000, 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. was $33,835,000 or 6.88 percent of assets, and book value per share was $17.86. Abington Savings Bank is a Massachusetts-chartered savings bank with deposits insured in full by the Federal Deposit Insurance Corp. 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 Centers The facility or location on an installation, base, or facility used by the commander to command, control, and coordinate all crisis activities. See also base defense operations center; command center. in Abington, and six other branches located in Halifax, Holbrook, Hull, Kingston, Pembroke and Whitman. CONTACT: Abington Bancorp Inc. Robert M. Lallo, 617-982-4473 |
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