ELMIRA, N.Y., Aug. 28 /PRNewswire-FirstCall/ -- The Board of Directors of The Elmira Savings Bank, FSB has declared a $0.20 per share cash dividend on their common shares outstanding. The cash dividend will be paid on September 26, 2008 to shareholders of record September 12, 2008. The Bank also declared a dividend on their preferred shares outstanding.
"We are proud to provide this dividend level to our many loyal shareholders. We have continuously paid cash dividends since 1985. The current dividend level is equal to the previous quarter's dividend when taking into account the 10% stock dividend issued in the second quarter," said Michael P. Hosey, President and Chief Executive Officer.
Elmira Savings Bank, FSB with $466.5 million in total assets, is insured by the Federal Deposit Insurance Corporation (FDIC) and is a federally chartered Bank with five offices in Chemung County, NY; three offices and a loan center in Tompkins County, NY; one office in Steuben County, NY; one office in Cayuga County, NY; and one office in Tioga County, PA.
Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve the risks and uncertainties, including the timely availability and acceptance of Bank products, the impact of competitive products and pricing, the management of growth, and other risks detailed from time to time in the Bank's publicly available regulatory reports.
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