First Central Financial Corporation declares quarterly dividend and announces change in year-end 1994 balance sheet.LYNBROOK Lynbrook, village (1990 pop. 19,208), Nassau co., SE N.Y.; inc. 1911. It is a suburb of New York City on the south shore of Long Island. There is sheet-metal and furniture manufacture. Old Church dates from 1800. The area was settled in 1785 and was called Bloomfield. , N.Y.--(BUSINESS WIRE)--March 31, 1995--On March 22, 1995, the Board of Directors of First Central Financial Corporation (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. - FCC (1) (Federal Communications Commission, Washington, DC, www.fcc.gov) The U.S. government agency that regulates interstate and international communications including wire, cable, radio, TV and satellite. The FCC was created under the U.S. ) declared a dividend of $0.03 per share of the Company's common stock payable May 9, 1995 to stockholders of record as of April 7, 1995. This event represents the Company's twenty-third consecutive dividend payment thereby reflecting its history of consistent profitability. In other corporate developments, First Central Insurance Company, a subsidiary of First Central, announced that on January 17, 1995, it purchased the building in which it previously leased office space. Additionally, during the first quarter of 1995, the Company bought and retired $250,000 principal amount of its convertible subordinated debenture subordinated debenture An unsecured bond with a claim to assets that is subordinate to all existing and future debt. Thus, in the event that the issuer encounters financial difficulties and must be liquidated, all other claims must be satisfied before leaving a principal balance of $6,505,000. First Central announced changes in its year-end 1994 balance sheet which resulted from a $3,003,000 increase in deferred income taxes. This revision impacted positively on both total assets and total stockholders' equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. . One consequence of the change was a rise in full year 1994 total assets to $141,728,580, up $33,806,605 from the prior year's comparable figure. For the entire year, total stockholders' equity was restated to $27,237,983, rising by $484,167 from year-end 1993. Revised book value per share came in at $4.54. CONTACT: First Central Financial Corp., Lynbrook Joan Locascio, 516/593-7070 (Treasurer) |
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