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CHESTER VALLEY BANCORP INC. DECLARES STOCK DIVIDEND AND REGULAR QUARTERLY CASH DIVIDEND

 CHESTER VALLEY BANCORP INC. DECLARES
 STOCK DIVIDEND AND REGULAR QUARTERLY CASH DIVIDEND
 DOWNINGTOWN, Pa., Aug. 26 /PRNewswire/ -- Chester Valley Bancorp Inc. (NASDAQ: CVAL) announced today the declaration of a 5 percent stock dividend as well as its regular quarterly cash dividend of $.08 per share, to be paid on Sept. 24, 1992, to shareholders of record at the close of business on Sept. 11.
 The cash dividend will be calculated on shares held before the issuance of the stock dividend. Any fractional shares resulting from the issuance of the stock dividend will be paid in cash.
 Ellen Ann Roberts, president and chief executive officer, reported that good earnings of $357,000 for the quarter and earnings of $1,344,000 for the fiscal year ended June 30, 1992, warranted the continuation of the cash dividend. In addition, Roberts stated, "The company's consistent growth and strong capital position continues to be encouraging, especially in light of the current economic challenges. We are extremely pleased that we are able once again to reward our shareholders for their confidence in us with the 5 percent stock dividend. At June 30, 1992, Chester Valley, the parent company of First Financial Savings Bank, PaSA, had a capital base of $17.39 million, representing 9.04 percent of assets for the bank of $192.43 million. As of the same date, tangible and core capital were $17.01 million and risk based capital was $18.20 million, exceeding the minimum capital requirements for these three standards by $14.13 million, $11.25 million and $8.62 million, respectively.
 The executive offices of First Financial, a full-service bank, are located in Downingtown, with branch offices in Exton, Frazer, Thorndale and Westtown, Pa.
 /delval/
 -0- 8/26/92
 /CONTACT: Bonnie Laserna, director of Shareholder Relations of Chester Valley Bancorp, 215-269-9700/
 (CVAL) CO: Chester Valley Bancorp Inc. ST: Pennsylvania IN: FIN SU: DIV


MP-MK -- PH008 -- 3362 08/26/92 10:05 EDT
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Publication:PR Newswire
Date:Aug 26, 1992
Words:323
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