Printer Friendly

ANB CORP. ANNOUNCES 14TH CONSECUTIVE DIVIDEND INCREASE, THIRD QUARTER EARNINGS

 MUNCIE, Ind., Oct. 18 /PRNewswire/ -- For the 14th consecutive year, ANB Corporation (NASDAQ: ANBC), a Muncie, Ind., bank holding company, has increased its dividend to shareholders. This year's increase is 17.6 percent, from 17 cents to 20 cents per share. In each of the last five years, the increase in dividends has been 10 percent or more.
 Third quarter earnings for the company amounted to $1.262 million -- an increase of 7.7 percent over the $1.172 million reported for the third quarter of 1992. On a per share basis, net income for the quarter was 56 cents -- a 7.7 percent increase over the 52 cents reported for the same period last year. Through Sept. 30, 1993, net income totaled $4.117 million -- an increase of 17.3 percent over the $3.511 million earned during the first nine months of 1993. Net income per share through Sept. 30 was $1.82 -- an increase of 16.7 percent over the $1.56 reported for the same period in 1992.
 The market price of ANBC stock, which is traded on the NASDAQ exchange was $26.25 on Sept. 30, 1993. The stock has appreciated in value 38.2 percent since Sept. 30 of last year when the market price was $19.00 a share.
 ANB Corp. is the parent company of American National Bank and Trust Company of Muncie and The Saratoga State Bank of Randolph County, Ind. The company reported assets of $345 million at Sept. 30, 1993. The company reports, 2,265,537 shares of stock outstanding. Stockholders' equity in the company totaled $40.9 million at Sept. 30, 1993.
 In August, ANB Corporation officials announced that an agreement had been reached to purchase Winchester Bancorporation, parent company of Peoples Loan and Trust Bank. Peoples Loan and Trust has offices in the Indiana communities of Winchester, Farmland, Lynn and Richmond. The transaction will be finalized in early 1994.
 -0- 10/18/93
 /CONTACT: Larry E. Thomas, treasurer and chief financial officer, 317-747-7600, ext. 513, or Lloyd M. Townsend, vice president, 317-747-7600, ext. 594, both of ANB Corp./
 (ANBC)


CO: ANB Corp. ST: Indiana IN: FIN SU: DIV ERN

BM-SM -- CL015 -- 3297 10/18/93 10:42 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 18, 1993
Words:371
Previous Article:IRWIN FINANCIAL CORPORATION ANNOUNCES RECORD THIRD QUARTER RESULTS
Next Article:AMERICAN PRECISION INDUSTRIES ANNOUNCES THIRD QUARTER, NINE MONTHS RESULTS
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters