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GREAT LAKES BANCORP TO PAY 3RD-QUARTER STOCK DIVIDENDS

 GREAT LAKES BANCORP TO PAY 3RD-QUARTER STOCK DIVIDENDS
 ANN ARBOR, Mich., Sept. 23 /PRNewswire/ -- Great Lakes Bancorp


announced that it will pay common stock dividends to holders of both its common and preferred stock.
 Holders of Great Lakes' common stock (NASDAQ-NMS: GLBC) will receive one share of common stock for every 50 shares owned.
 Holders of Great Lakes' preferred stock (NASDAQ-NMS: GLBCP) will receive one share of Great Lakes' common stock for every 40 shares of preferred stock owned.
 Both dividends will be paid Oct. 15 to recordholders as of Oct. 1, 1992. Cash will be paid in lieu of fractional shares.
 With $2.8 billion in assets and $1.8 billion in deposits, Great Lakes Bancorp is Michigan's second-largest savings bank. Great Lakes has branches throughout Michigan, with primary concentrations in the Ann Arbor, Battle Creek, and Saginaw areas. In addition, Great Lakes operates Dollar Federal Savings Bank in Hamilton, Ohio, and Great Lakes Mortgage Co. in Birmingham, Mich.
 -0- 9/23/92
 /CONTACT: James S. Patterson, vice president, Corporate Communications, Great Lakes Bancorp, 313-769-8300, Ext. 4116/
 (GLBC) CO: Great Lakes Bancorp ST: Michigan IN: FIN SU: DIV


ML -- DE031 -- 2746 09/23/92 15:19 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Sep 23, 1992
Words:198
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