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MOUNTAINEER BANKSHARES OF W.VA., INC. ANNOUNCES 20 PERCENT DIVIDEND INCREASE

 MARTINSBURG, W.Va., July 29 /PRNewswire/ -- Mountaineer Bankshares of W.Va., Inc. (NASDAQ: MTNR) increased the regular quarterly dividend 20 percent from 25 cents per share to 30 cents per share, it was announced today.
 The dividend is payable on Sept. 3, 1993, to shareholders of record on Aug. 13, 1993. The increase was announced following its approval at the board of directors' meeting held on July 28, 1993.
 "Because of the continued growth in earnings that Mountaineer has experienced, we are pleased to be able to announce this significant dividend increase for our shareholders," commented Lacy I. Rice Jr., chairman and chief executive officer.
 Mountaineer Bankshares is the holding company of seven banks including Old National Bank, Martinsburg; The Empire National Bank of Clarksburg, W.Va.; City National Bank of Fairmont, W.Va.; The Bank of Wadestown, Fairview, W.Va.; Mercantile Banking & Trust Company, Moundsville, W.Va.; The Bank of Cameron, W.Va.; and The Sunshine Bank of Wheeling, W.Va.
 -0- 7/29/93
 /CONTACT: Brent D. Robinson, president of Mountaineer Bankshares, 304-263-0861, ext. 193/
 (MTNR)


CO: Mountaineer Bankshares of W.Va., Inc. ST: West Virginia IN: FIN SU: DIV

CD-KC -- PG004 -- 7174 07/29/93 09:50 EDT
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Publication:PR Newswire
Date:Jul 29, 1993
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