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MID AM, INC., DECLARES DIVIDEND

 MID AM, INC., DECLARES DIVIDEND
 BOWLING GREEN, Ohio, May 22 /PRNewswire/ -- Edward J. Reiter,


chairman and chief executive officer of Mid Am, Inc. (NASDAQ: MIAM) announced that the board of directors declared a cash dividend of $.24 per share payable June 30, 1992 to shareholders of record on June 10, 1992. The dividend will be paid on more than six million shares to more than 4,300 shareholders, in an amount exceeding $1.4 million.
 In April, Mid Am, Inc. announced first quarter earnings of $3.2 million, up 25 percent from the first quarter of 1991. Mid Am, Inc. also signed definitive agreements to acquire Ultra Bancorp, Xenia, Ohio, a thrift holding company with 10 offices in five counties, and to acquire the Marysville, Ohio branch of Savings of America, a $25 million banking center. The purchase of four offices of Society Bank & Trust in Napoleon, Liberty Center, and Montpelier is pending and should be complete in September, 1992. A registration statement has been filed for a public offering of one million shares of Cumulative Convertible Stock, Series A. Closing of the offering is anticipated in early June.
 Mid Am, Inc., a multi-bank holding company with assets in excess of $1.2 billion, currently owns three commercial banks and one thrift, with 54 banking centers in 12 counties throughout Northwest and West Central Ohio. Mid Am Information Services, Inc., the company's data processing subsidiary, is located in Bowling Green.
 -0- 5/22/92
 /CONTACT: Patricia W. Spengler, senior vice president/corporate development for Mid Am, Inc., 419-352-5271/
 (MIAM) CO: Mid Am, Inc. ST: Ohio IN: FIN SU: DIV


sm -- CL013 -- 3428 05/22/92 16:03 EDT
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Publication:PR Newswire
Date:May 22, 1992
Words:278
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