Board of directors, Framingham Savings Bank declares quarterly cash dividend of 2 1/2 cents per share and change in trading symbol.FRAMINGHAM, Mass.--(BUSINESS WIRE)--May 22, 1996--Ted S. Valpey Jr., chairman of the board of directors of Framingham 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. , Framingham, Mass., announced that the board of directors has declared a quarterly cash dividend of 2 1/2 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. on its common stock. The dividend will be payable June 14, 1996 to shareholders of record May 31, 1996. Ted S. Valpey also announced that the change of the bank's name to Metro West Bank will become effective on June 12, 1996. Beginning on June 13, 1996, the bank's common stock, which trades on the Nasdaq National Market System, will change in symbol from "FSBX" to "MWBX." The bank's deposits are fully insured by the FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). and the Depositors Insurance Fund The Depositors Insurance Fund was created by the state government of Massachusetts in response to the large number of Massachusetts bank failures during the Great Depression. The Federal Deposit Insurance Corporation was inspired by this fund. . CONTACT: Framingham Savings Bank Robert Y. Fudge, 508/620-0300 |
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