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NORTHBAY FINANCIAL DECLARES DIVIDEND

 PETALUMA, Calif., June 16 /PRNewswire/ -- Northbay Financial Corp. (AMEX: NBF) announced today that its board of directors has declared a cash dividend of 10 cents per share, payable to stockholders of record as of July 16, 1993, to be paid on July 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 $303 million at March 31, 1993.
 -0- 6/16/93
 /CONTACT: Alfred A. Alys, president and chief executive officer of Northbay Financial Corp., 707-792-7400/
 (NBF)


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

SG-TM -- SF013 -- 2840 06/16/93 19:17 EDT
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Publication:PR Newswire
Date:Jun 16, 1993
Words:194
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