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HERITAGE BANKCORP, INC., OF TAYLOR, MICH., (HEBC) ANNOUNCES ESTABLISHMENT OF NEW COMMITTEE

 HERITAGE BANKCORP, INC., OF TAYLOR, MICH., (HEBC)
 ANNOUNCES ESTABLISHMENT OF NEW COMMITTEE
 TAYLOR, Mich., Sept. 8 /PRNewswire/ -- The board of directors of Heritage Bankcorp, Inc. (NASDAQ: HEBC) today announced the establishment of a new committee composed of three outside directors. The committee will explore various opportunities available to the company, including mergers, acquisitions or a possible sale of the company, as well as the company's current position of remaining independent.
 During the last year, the company has considered possible acquisitions and is currently working with its investment banking firm on a regular basis to explore opportunities to maximize shareholder value.
 The company's common stock is traded on the National Association of Securities Dealers, Inc. Automated Quotation System under the symbol "HEBC." The company is the holding company for Heritage Federal Savings Bank, which serves the state of Michigan through 45 conveniently located offices.
 -0- 9/8/92
 /CONTACT: Mr. E.G. Wilkinson Jr. or Ms. Faye M. Tabor of Heritage Bankcorp, 313-285-1010/
 (HEBC) CO: Heritage Bankcorp, Inc. ST: Michigan IN: FIN SU:


SB -- DE024 -- 7217 09/08/92 17:33 EDT
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Publication:PR Newswire
Date:Sep 8, 1992
Words:181
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