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FRANKLIN BANK DECLARES EIGHTH PREFERRED STOCK DIVIDEND

 SOUTHFIELD, Mich., Sept. 23 /PRNewswire/ -- Franklin Bank, N.A. (NASDAQ: FSVB) announced today that the board of directors declared the payment of a dividend on its Series A Noncumulative Convertible Preferred Shares. A dividend of $0.225 per share will be paid on Oct. 15, 1993, to preferred shareholders of record as of Oct. 1, 1993.
 This is the eighth consecutive dividend paid on Franklin's Series A Preferred Shares. There are 908,000 preferred shares issued and outstanding. Franklin's preferred shares are listed and traded on the NASDAQ National Market System under the ticker symbol FSVBP.
 Franklin Bank is headquartered in Southfield and primarily serves small to medium-sized business customers and affluent individual customers in southeastern Michigan via three full-service regional branches located in Southfield, Birmingham and Grosse Pointe Woods.
 Franklin also serves its business customers exclusively at its Business Center in Southfield.
 -0- 9/23/93
 /CONTACT: Rebecca J. Christian or Lisa Hudy of Franklin Bank, 313-358-6462 or (outside Michigan), 800-356-8910/
 (FSVB)


CO: Franklin Bank ST: Michigan IN: FIN SU: DIV

ML -- DE005 -- 5052 09/23/93 08:50 EDT
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Publication:PR Newswire
Date:Sep 23, 1993
Words:181
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