American Financial Holdings, Inc. Announces Results of the Annual Meeting of Stockholders.Business Editors NEW BRITAIN New Britain, city, United States New Britain, industrial city (1990 pop. 75,491), Hartford co., central Conn.; settled c.1686, inc. 1871. The tin shops and brassworks in the city were established in the 18th cent. , Conn.--(BUSINESS WIRE)--June 5, 2000 Robert T. Kenney, Chairman of the Board of Directors, President and Chief Executive Officer of American Financial Holdings, Inc. (the "Company") (Nasdaq: AMFH) announced that at the Annual Meeting of Stockholders held on June 5, 2000, the stockholders of American Financial Holdings, Inc. elected Fred M. Hollfelder, Harry N. Mazadoorian and Jeffrey T. Witherwax as directors for the three-year terms, approved the adoption of the American Financial Holdings, Inc. 2000 Stock-Based Incentive Plan, and ratified the appointment of KMPG LLP LLP - Lower Layer Protocol as independent auditors Independent Auditor An external auditor with a certified public accounting designation that qualifies him or her to provide an auditor's report. Notes: These auditors aren't affiliated with the company being audited. of the Company for the fiscal year ending December 31, 2000. In order to fund stock awards which are authorized under the Stock-Based Incentive Plan, the Company will, as soon as practicable, establish a trust which intends to purchase 4% (or 1,154,844 shares) of the Company's outstanding shares of common stock in open market transactions with funds contributed by the Company. Such purchases will be made from time to time at the discretion of the trustee. American Financial Holdings, Inc. is the holding company for American 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. . Established in 1862, American Savings Bank is one of Connecticut's oldest and largest independent banks. It is the third largest publicly held banking institution based in Connecticut. Headquartered in New Britain, American Savings currently has 17 branches in 12 communities throughout central Connecticut. The Bank's mission is to continue to operate as an independent bank, delivering quality customer service and offering a wide spectrum of competitively priced financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. to customers. As a community-based bank, American Savings is committed to the betterment bet·ter·ment n. 1. An improvement over what has been the case: financial betterment. 2. Law An improvement beyond normal upkeep and repair that adds to the value of real property. of the communities it serves. |
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