FRANKLIN BANK DECLARES FIRST STOCK DIVIDEND
FRANKLIN BANK DECLARES FIRST STOCK DIVIDEND SOUTHFIELD, Mich., Jan. 27 /PRNewswire/ -- Franklin Bank, N.A.
(NASDAQ: FSVB) today declared a 7 percent stock dividend on its outstanding common shares. This represents Franklin's first dividend on its common stock. Announcement of the common stock dividend closely follows the bank's release of record earnings of $2,564,375 for the year ended Dec. 31, 1991.
The dividend is payable in common shares on Feb. 24, 1992, to common stockholders of record as of Feb. 6, 1992. Eligible stockholders will receive certificates representing the number of whole shares to which they are entitled and cash in lieu of any fractional shares. "Franklin just consummated a very successful year and we are pleased to be in a position to share that success with our shareholders," said President and CEO Read P. Dunn. Franklin Bank, N.A. is a $398.5 million commercial bank headquartered in Oakland County, Mich. Franklin operates three full- service regional branches in Southfield, Birmingham and Grosse Pointe Woods. -0- 1/27/92 /CONTACT: Rebecca J. Christian or Lisa Aupperle of Franklin Bank, 313-358-1615 or 800-356-8910 (outside Michigan)/ (FSVB) CO: Franklin Bank, N.A. ST: Michigan IN: FIN SU: DIV
KK -- DE007 -- 3612 01/27/92 10:01 EST
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|Date:||Jan 27, 1992|
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