BSB Bancorp declares three-for-two stock split, announces 36% increase in quarterly cash dividend and extends stock repurchase program.BINGHAMTON, N.Y.--(BUSINESS WIRE)--Oct. 23, 1995--The Board of Directors of BSB BSB Backstreet Boys BSB Bayerische Staatsbibliothek BSB British Superbikes (motorcycle racing series) BSB Bachelor of Science in Business BSB Bandar Seri Begawan (capital of Brunei) 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 :BSBN BSBN Baltic Sea Business Network BSBN Bu Sa Bum Nim ), holding company for BSB Bank & Trust Company, has declared a three-for-two stock split. The stock split is payable on Dec. 8, 1995 to shareholders of record at the close of business on Nov. 21, 1995. The Board of Directors also announced a 36% increase in the quarterly cash dividend. The dividend, adjusted for the stock split, is $0.20 per share and is payable Dec. 8, 1995 to shareholders of record at the close of business on Nov. 22, 1995. The Board also extended the company's existing stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program, announced April 25, 1995, to repurchase up to 215,000 shares of its common stock. The company indicated that 72,300 shares of the 215,000 shares remain to be repurchased. Shares may be repurchased from time to time during the next six months in open market and unsolicited, negotiated transactions. Repurchases will be subject to availability and prices which are acceptable to the corporation. William H. Rincker, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , said, "The stock split and the increase in the quarterly cash dividend reflect the Board of Directors' confidence in BSB Bancorp's continued favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. financial performance." On Oct. 19, 1995, BSB Bancorp, Inc. announced net income for the quarter ended Sept. 30, 1995 of $3,627,000 compared to net income of $3,515,000 for the quarter ended Sept. 30, 1994. Earnings per share increased to $0.86 per share for the quarter ended Sept. 30, 1995 compared to $0.80 for the quarter ended Sept. 30, 1994. BSB Bancorp, Inc. is the bank holding company for BSB Bank & Trust Company, a diversified financial The diversified financial services segment includes a range of consumer and commercially-oriented companies offering a wide variety of products and services, including various lending products (such as home equity loans and credit cards), insurance, and securities and investment services organization with total assets of over $1.2 billion. Headquartered in Binghamton, BSB Bank & Trust Company operates 12 offices in Broome, Tioga, Chenango, and Chemung Counties, providing a broad range of deposit, loan, trust and financial management services to businesses and consumers. CONTACT: William H. Rincker President & CEO 607/779-2536 |
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