Alabama National BanCorporation Announces Dividend Increase.
BIRMINGHAM, Ala.--(BUSINESS WIRE)--Feb. 19, 2003
The Board of Directors of Alabama National BanCorporation (Nasdaq/NM:ALAB) (ANB) today announced a quarterly cash dividend of $0.285 per share, representing a $1.14 per share annual dividend rate. This dividend represents an increase of 14 percent from the previous quarterly dividend of $0.25.
The dividend is payable April 3, 2003, to stockholders of record at the close of business on March 15, 2003.
"We are pleased to provide ANB stockholders with this eighth consecutive annual dividend increase since our initial dividend in 1995," said John H. Holcomb, III, Chairman and Chief Executive Officer.
ANB is a $3.3 billion bank holding company operating 66 locations through eleven bank subsidiaries in Alabama, Florida and Georgia. The largest subsidiary for the holding company is Birmingham-based National Bank of Commerce (NBC). Other Alabama subsidiaries include: First American Bank in Decatur/Huntsville and Auburn/Opelika; First Citizens Bank in Talladega; Bank of Dadeville; Alabama Exchange Bank in Tuskegee and First Gulf Bank in Baldwin County. Florida subsidiaries are: Citizens & Peoples Bank, N.A. in Pensacola; Community Bank of Naples, N.A.; Peoples State Bank in Groveland; and Public Bank in metropolitan Orlando and Vero Beach. ANB has one subsidiary in Georgia, Georgia State Bank in metropolitan Atlanta. ANB provides full banking services to individuals and businesses. Brokerage services are provided to customers through NBC's wholly owned subsidiary, NBC Securities, Inc. Investments are not bank guaranteed, not FDIC insured and may lose value. Insurance services are provided through ANB Insurance Services, Inc., a wholly owned subsidiary of First American Bank.
This press release contains forward-looking statements as defined by federal securities laws. Statements contained in this press release which are not historical facts are forward-looking statements. Such statements include the future payment of dividends, which payments are subject to future operating conditions. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. ANB undertakes no obligation to update these statements following the date of this press release. In addition, ANB, through its senior management, may from time to time make forward-looking public statements concerning the matters described herein. Such forward-looking statements are necessarily estimates reflecting the best judgment of ANB's senior management based upon current information and involve a number of risks and uncertainties. Certain factors which could affect the accuracy of such forward-looking statements are identified in the public filings made by ANB with the Securities and Exchange Commission, and forward-looking statements contained in this press release or in other public statements of ANB or its senior management should be considered in light of those factors. There can be no assurance that such factors or other factors will not affect the accuracy of such forward-looking statements.
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|Date:||Feb 19, 2003|
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