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CF BANCORP, INC. DECLARES DIVIDEND

 DAVENPORT, Iowa, June 24 /PRNewswire/ -- Paul L. Eckert, chairman of CF Bancorp, Inc. (NASDAQ-NMS: CFBC), announced today that CF Bancorp, Inc. has declared a 10 percent stock dividend payable on or about July 30, 1993, to shareholders of record on July 15, 1993. Under the terms of the stock dividend, CF Bancorp, Inc. shareholders will receive a dividend of one share for every ten shares held on the record date. Fractional shares created by the stock dividend will be paid in cash.
 In addition, Eckert announced that the corporation will pay a cash dividend of $0.08 per share for every share held on the record date, including the shares issued pursuant to the stock dividend. The cash dividend will be payable on July 30, 1993, to shareholders of record on July 15, 1993.
 Eckert stated that "the board of directors has declared these dividends in recognition of the financial performance of the company since our stock conversion and investor interest in our stock."
 CF Bancorp, Inc. was formed in March 1992, and acquired all of the shares of Citizens Federal Savings Bank, Davenport, Iowa, upon its conversion from a mutual to a stock savings bank effective July 1, 1992.
 -0- 6/24/93
 /CONTACT: Greg Bohac of CF Bancorp, 319-322-6237/
 (CFBC)


CO: CF Bancorp, Inc. ST: Iowa IN: FIN SU: DIV

CM -- CH005 -- 5318 06/24/93 14:25 EDT
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Publication:PR Newswire
Date:Jun 24, 1993
Words:231
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