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FIRST NATIONAL BANK CORP. BOARD DECLARES 4-FOR-3 STOCK SPLIT

 CLINTON TOWNSHIP, Mich., Oct. 14 /PRNewswire/ -- The board of directors of First National Bank Corp. (NASDAQ: MTCL) today announced a 4-for-3 stock split, to be distributed beginning Nov. 24, 1993, to stockholders of record Nov. 3, 1993.
 Certificates representing the additional shares will be distributed beginning Nov. 24, 1993; fractional shares will be settled by cash, based on the average between the closing bid and ask price as reported by NASDAQ on the day prior to the declaration date.
 "We are pleased to make this special distribution of common stock to our stockholders," said Chairman of the Board Arie Guldemond, and Vice Chairman Harold W. Allmacher. This should create more liquidity for the corporation's common stock by making the stock affordable for more investors.
 The board of directors anticipates that future annual cash dividends will be $0.76 per share after the stock split. This is a nominal increase over the prior dividend rate.
 After the split, the corporation will have approximately 2,309,000 shares issued and outstanding.
 First National Bank Corp. is the parent company of First National Bank in Macomb County and Bankers Fund Life Insurance Co., which are headquartered in Mount Clemens, Mich. Total assets of the corporation as of Sept. 30, 1993, were $464.8 million.
 -0- 10/14/93
 /CONTACT: Richard J. Miller of First National Bank Corp., 313-465-2400, Ext. 240/
 (FNBC)


CO: First National Bank Corp. ST: Michigan IN: FIN SU:

JG -- DE034 -- 2340 10/14/93 14:40 EDT
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Publication:PR Newswire
Date:Oct 14, 1993
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