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FIRST WESTERN BANCORP ANNOUNCES 8 PERCENT INCREASE IN QUARTERLY CASH DIVIDEND

 FIRST WESTERN BANCORP ANNOUNCES 8 PERCENT INCREASE
 IN QUARTERLY CASH DIVIDEND
 NEW CASTLE, Pa., July 20 /PRNewswire/ -- Thomas J. O'Shane, president and chief executive officer of First Western Bancorp, Inc. (NASDAQ: FWBI), today reported that the board of directors, at its regular board meeting today, declared a $.20 per share quarterly cash dividend on 4,857,170 common shares outstanding, payable on Aug. 7, 1992, to shareholders of record at the close of business on Aug. 3.
 The dividend, representing a $.80 per share rate on an annualized basis, has been increased 8.1 percent from the prior $.185, or $.74 per share annualized rate.
 On an actual year-to-year basis, total dividends will be up 8.5 percent in 1992 over 1991's reported $.71 per share as a result of the August 1991 5 percent stock dividend and the current quarter's increase.
 O'Shane stated, "The board was pleased to increase the dividend in recognition of the excellent earnings performance of the company over the past year. The dividend has been increased at a compound annual rate of 8.6 percent over the past five years, through year-end 1991. This latest increase is right in line with that growth rate."
 First Western Bancorp, Inc., a $1.2 billion multibank holding company headquartered in New Castle, is the parent of First National Bank of Western Pennsylvania, Beaver Trust Company, First Federal of Western Pennsylvania and First Western Trust Services Company, with 36 branch banking offices located in seven western Pennsylvania counties and one northeastern Ohio county.
 -0- 7/20/92
 /CONTACT: Robert H. Young, senior vp-finance, secretary and treasurer of First Western Bancorp, 412-652-8550, ext. 137/
 (FWBI) CO: First Western Bancorp, Inc. ST: Pennsylvania IN: FIN SU: DIV


MK-MJ -- PG008 -- 0852 07/20/92 15:23 EDT
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Publication:PR Newswire
Date:Jul 20, 1992
Words:295
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