CommerceSouth Announces 3rd Quarter Dividend.Business Editors EUFAULA, Ala.--(BUSINESS WIRE)--Sept. 6, 2002 The Board of Directors of CommerceSouth, Inc. (Nasdaq:COSO COSO Committee of Sponsoring Organizations of the Treadway Commission COSO Church of Spiral Oak COSO Corporate South COSO Class of Service Override COSO Combat Oriented Supply Operations (USAF) ), a southeastern bank holding company formerly known as Eufaula BancCorp, Inc., declared a third quarter dividend of $.0525 per share on common stock. The increase is approximately 5% over the third quarter 2001 dividend of $.05 per share, and the current annual dividend rate is $.21 per share. The dividend is payable September 30, 2002 to shareholders of record as of September 9, 2002. Greg Faison, President and Chief Executive Officer of CommerceSouth, Inc., states, "We are proud to continue our record of increasing dividends. The name change from Eufaula BancCorp to CommerceSouth and the recently announced plans to move the corporate headquarters to Northwest Florida are integral parts of our five-year strategic plan. Continued increases in dividends and growth in assets and income are vital to our future path." CommerceSouth, Inc. is a $284 million holding company for First American Bank First American Bank is the name of numerous banks operating separately in each state of the United States. Please refer to the individual articles for more information on each bank. of Walton County, Florida Walton County is a county located in the state of Florida. As of 2000, the population was 40,601. The U.S. Census Bureau 2005 estimate for the county is 50,324 [1]. Its county seat is De Funiak Springs, Florida. with assets of $137 million and locations in Santa Rosa Santa Rosa, city, Argentina Santa Rosa, city (1991 pop. 80,629), capital of La Pampa prov., central Argentina. It is a modern city and road junction surrounded by a rich agricultural and cattle-raising area. Beach, Panama City Panama City, city (1990 pop. 34,378), seat of Bay co., NW Fla., on St. Andrews Bay; inc. 1909. A Gulf Coast resort with amusement parks and excellent fishing, it is also a port of entry. The city's industries produce paper, clothing, and chemicals. , Grayton Beach and Freeport, and for Southern Bank of Commerce, Alabama with assets of $147 million and locations in Eufaula and Montgomery, Alabama. Both banks provide full banking services including mortgage services and internet banking. The common stock of the Company is traded on the NASDAQ Small Cap Market under the symbol "COSO." The Company's release contains certain statements which are not historical facts or which concern the Company's future operations or economic performance and which are considered forward-looking statements. When we use words such as "may," "will," "expect," "plan," "project," and "anticipate," we are using forward-looking statements. Any such forward-looking statements are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The Company cautions that all forward-looking statements involve risks and uncertainties and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors, including information contained in the Company's filings with the SEC. |
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