Ambanc Holding Co., Inc. Announces Increased Quarterly Dividend And Annual Meeting Date.Business Editors AMSTERDAM, N.Y.--(BUSINESS WIRE)--Feb. 1, 2001 Ambanc Holding Co., 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 : AHCI) (the Company), the parent company of Mohawk Community Bank (the Bank), Amsterdam, New York Amsterdam, New York is the name of two locations in Montgomery County, New York:
The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. . The dividend will be paid on March 1, 2001 to shareholders of record on February 15, 2001. This is an increase of 6.6% over the previous quarterly dividend. The company has a record of increasing its dividend each quarter since 1999. John M. Lisicki, the Company's President and CEO, stated "I am extremely pleased that we are able to once again raise our dividend. This increase represents the eighth consecutive quarter in which we have done so. Our dividend policy, together with our continuing share repurchases, provide to us two effective means to optimize our capital position. I am also pleased to be able to return a portion of this capital, through our dividends, to our shareholders, the owners of our company." The Company also announced today that its annual meeting of stockholders will be held on May 18, 2001, at 10:00 a.m., at the headquarters of the Bank, 11 Division Street, Amsterdam, New York 12010. This announcement was made in compliance with Section 6(c) of Article I of the Bylaws of the Company. Ambanc Holding Co., Inc. is a unitary savings and loan savings and loan n. a banking and lending institution, chartered either by a state or the Federal government. Savings and loans only make loans secured by real property from deposits, upon which they pay interest slightly higher than that paid by most banks. holding company. The Company's primary subsidiary, Mohawk Community Bank, serves customers through seventeen upstate New York offices, located in Fulton, Montgomery, Schenectady, Saratoga, Albany, Otsego, Chenango and Schoharie counties. The Bank's deposits are insured up to the maximum legal amount 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. (FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). ). The Company's common stock is traded on the NASDAQ National Market, under the symbol "AHCI". |
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