NORTHBAY FINANCIAL PAYS DIVIDEND
NORTHBAY FINANCIAL PAYS DIVIDEND PETALUMA, Calif., Feb. 10 /PRNewswire/ -- Northbay Financial Corp.
(AMEX: NBF) announced today that its board of directors has declared a cash dividend for its second quarter ended Dec. 31, 1991. The cash dividend of $.07 per share, payable to stockholders of record as of Feb. 24, 1992, will be paid on March 5, 1992. This is the second dividend payment since Northbay Financial Corp. began trading publicly on the American Stock Exchange in April 1989.
Alfred A. Alys, chief executive officer of the company, stated that the board of directors determined that the payment of a cash dividend was appropriate in view of the company's strong capital position and recent 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 main office in Petaluma, and five other offices in Sonoma County. The company recently announced its plans to open a seventh office in the City of Sonoma, also in Sonoma County, in April, 1992. The company has consolidated assets of $267 million at Dec. 31, 1991. -0- 2/10/92 /CONTACT: Jeanne M. Chalmers of Northbay Financial Corp., 707-778-3334/ (NBF) CO: Northbay Financial Corp. ST: California IN: FIN SU: DIV
DG -- SF017 -- 8554 02/10/92 19:49 EST
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|Date:||Feb 10, 1992|
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