Affiliated Community Bancorp announces 25% stock split.WALTHAM, Mass.--(BUSINESS WIRE)--April 23, 1997--Affiliated Community 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 :AFCB AFCB ARC Fault Circuit Breaker AFCB Ahwatukee Foothills Concert Band (Phoenix, AZ) AFCB Authorized Function Control Block ) (the holding company for Lexington 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. and the Federal Savings Bank Noun 1. federal savings bank - a federally chartered savings bank FSB savings bank - a thrift institution in the northeastern United States; since deregulation in the 1980s they offer services competitive with many commercial banks ) today announced a 25% stock split of the common stock of the company to be effected in the form of a stock dividend. This split will be payable on May 30, 1997 in the form of one additional share for each four shares of common stock outstanding held by stockholders of record as of the close of business on May 15, 1997. Timothy J. Hansberry, president and chief executive officer of Affiliated, stated, "We are pleased to announce this split. We consider it another sign of our confidence in the future and our interest in shareholder value. We believe that the 25% increase in the number of shares outstanding will enhance the liquidity of the stock." Affiliated Community Bancorp Inc. is the parent company of Lexington Savings Bank and the Federal Savings Bank which are located in Middlesex County, Mass. Lexington Savings Bank has seven banking offices in Lexington, Arlington, Bedford and Burlington and is insured by the FDIC's Bank Insurance Fund (BIF BIF In currencies, this is the abbreviation for the Burundi Franc. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ). The Federal Savings Bank has four offices located in Waltham, Concord and Weston and insured by the FDIC's Savings Association Insurance Fund Savings Association Insurance Fund (SAIF) A government organization that replaced the Federal Savings and Loan Insurance Corporation as the provider of deposit insurance for thrift institutions. (SAIF). CONTACT: Affiliated Community Bancorp, Inc. John G. Fallon 617/894-6810 ext. 399 or James A. Morgan 617/894-6810 ext.284 |
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