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REPUBLIC BANCORP DECLARES COMMON STOCK CASH DIVIDEND AND 10-PERCENT STOCK DIVIDEND

 ANN ARBOR, Mich., Aug. 20 /PRNewswire/ -- The board of directors of Republic Bancorp Inc. (NASDAQ-NMS: RBNC) at its regular monthly board meeting in August, declared a quarterly cash dividend of $.06 per share on common stock payable on Oct. 8, 1993, to shareholders of record Sept. 10, 1993. Additionally, the board approved a 10-percent stock dividend to be issued Oct. 29, 1993, to shareholders of record Oct. 1, 1993. It is anticipated the quarterly cash dividend will remain at $.06 per common share, in effect resulting in a 10-percent increase in the quarterly cash dividend.
 Republic Bancorp Inc. is a registered bank holding company with headquarters in Ann Arbor. The company currently owns nine subsidiaries with banking and loan production offices in 15 states: Michigan, Ohio, Illinois, Indiana, Missouri, Iowa, Tennessee, Virginia, Maryland, Kentucky, North Carolina, Georgia, Florida, Alabama and Colorado. It has become one of the region's leading providers of single-family residential mortgages, closing approximately $2.3 billion in residential mortgages during the first seven months of 1993. The company's common stock is traded in the over-the-counter market and quoted on The Nasdaq Stock Market under the symbol RBNC.
 -0- 8/20/93
 /CONTACT: Dana M. Cluckey of Republic Bancorp, 517-725-7337/
 (RBNC)


CO: Republic Bancorp Inc. ST: Michigan IN: FIN SU: DIV

ML -- DE004 -- 4613 08/20/93 08:47 EDT
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Publication:PR Newswire
Date:Aug 20, 1993
Words:222
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