ArgentBank Declares Dividend.THIBODAUX, La.--(BUSINESS WIRE)--Aug. 20, 1997--ArgentBank (AMEX AMEX See: American Stock Exchange :AGB AGB Game Boy Advance AGB Allgemeine Geschäftsbedingungen (German: General terms and conditions / Standard business conditions) AGB Ice Breaker (USCG) AGB Asymptotic Giant Branch ) announced that the 143rd consecutive dividend has been approved for ArgentBank shareholders. Dr. James R. Peltier, chairman, announced the action, approved by the bank's board of directors at the meeting held Tuesday, Aug. 19, 1997. The dividend of $.14 per share is payable on Monday, Sept. 15, 1997, to shareholders of record on Friday, Aug. 29, 1997. The $.14 per share dividend represents an 8% increase over the dividend paid in the same period of 1996. On July 16, 1997, Hibernia Corp. (NYSE NYSE See: New York Stock Exchange :HIB Hib abbr. Haemophilus influenzae type b ) and ArgentBank signed a definitive agreement to merge. The merger, which is subject to approvals by regulators and by shareholders of ArgentBank, should be completed by year-end. ArgentBank's name will change to Hibernia following the computer conversion. Shareholders of ArgentBank would receive 2.04 shares of Hibernia stock for each share of ArgentBank stock, subject to adjustment in certain circumstances, in a tax-free pooling of interests Pooling of Interests An accounting method, used in mergers and acquisitions, where the balance sheet items of the two companies are simply added together. Notes: The opposite of pooling of interests is the purchase acquisition method. currently valued at approximately $190 million or $29.07 per share of ArgentBank stock. Headquartered in Thibodaux since 1910, ArgentBank is traded on the AMEX under the trading symbol Trading symbol See: Ticker symbol AGB. The $750 million locally owned and managed bank operates 21 banking offices: five in Thibodaux and one each in Chackbay, Galliano, Golden Meadow, Larose, Lockport and Raceland, all in Lafourche Parish; three in Houma and one supermarket branch in Terrebonne Parish; one in LaPlace in St. John the Baptist Parish St. John the Baptist parish may refer to one of a number of religious organisations: In the district of Clontarf, Dublin, Ireland:
Additionally, the bank operates 19 ATMs throughout Lafourche Parish, Terrebonne Parish and Assumption Parish, with loan production offices in the New Orleans area and Baton Rouge. ArgentBank has consolidated one supermarket branch in Pierre Part on Aug. 15, 1997, and is consolidating one in Napoleonville on Aug. 22, 1997. CONTACT: ArgentBank, Thibodaux Randall E. Howard, 504/447-0550 |
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