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NORTHBAY FINANCIAL DECLARES DIVIDEND

 PETALUMA, Calif., Sept. 16 /PRNewswire/ -- Northbay Financial Corp. (AMEX: NBF) announced today that its board of directors has declared a cash dividend of 10 cents per share, payable to stockholders of record as of Oct. 15, 1993, to be paid on Oct. 29, 1993.
 Alfred A. Alys, chief executive officer of the company, stated that the board of directors determined that the payment of the cash dividend was appropriate in view of the company's strong capital position and continuing favorable operating results. He noted that any further dividends will depend upon the company's financial condition, earnings, capital needs, regulatory requirements and economic conditions.
 Northbay Financial Corp. is the holding company for Northbay Savings Bank, F.S.B., which conducts business through its administrative headquarters in Petaluma and seven branch offices in Sonoma County. The company has consolidated assets of $311 million at June 30, 1993.
 -0- 9/16/93
 /CONTACT: Greg Jahn, vice president and chief financial officer, 707-792-7409; or Jeanne Chalmers, vice president and marketing manager, 707-792-7417, both of Northbay Financial/
 (NBF)


CO: Northbay Financial Corp. ST: California IN: FIN SU: DIV

PK-LH -- SF002 -- 2631 09/16/93 11:00 EDT
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Publication:PR Newswire
Date:Sep 16, 1993
Words:192
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