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NORTHBAY FINANCIAL DECLARES DIVIDEND

 PETALUMA, Calif., March 18 /PRNewswire/ -- Northbay Financial Corp. (AMEX: NBF) announced today that its board of directors has declared a cash dividend of 8 cents per share, payable to stockholders of record as of April 16, 1993, to be paid on April 30, 1993. This represents an increase in the dividend payout of 25 percent.
 Alfred A. Alys, chief executive officer of the company, stated that the board of directors determined that the payment of the cash dividend was appropriate in view of the company's strong capital position and continuing favorable operating results. He noted that any further dividends will depend upon the company's financial condition, earnings, capital needs, regulatory requirements and economic conditions.
 Northbay Financial Corp. is the holding company for Northbay Savings Bank, F.S.B., which conducts business through its administrative headquarters in Petaluma and seven branch offices in Sonoma County. The company has consolidated assets of $299 million at Dec. 31, 1992.
 -0- 3/18/93
 /CONTACT: Jeanne M. Chalmers of Northbay Financial, 707-792-7417/
 (NBF)


CO: Northbay Financial Corp. ST: California IN: FIN SU: DIV

TM-TB -- SF008 -- 7514 03/18/93 12:28 EST
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Publication:PR Newswire
Date:Mar 18, 1993
Words:188
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