SUMMIT, N.J., Nov. 24 /PRNewswire-FirstCall/ -- Hilltop Community Bancorp, Inc. (BULLETIN BOARD: HTBC) , the holding company for Hilltop Community Bank (the Bank) announced that its Board of Directors has authorized the payment of a 5% stock dividend. Shareholders of record on December 6, 2004 will receive one share of common stock for each twenty shares they own, payable on December 22, 2004.
In a joint statement, Chairman Richard D. Wellbrock and CEO Mortimer J. O'Shea commented: "We are concluding a busy year at the Bank and we again wanted to signal to our shareholders that we are optimistic about our future. We recently opened our third branch office, in Madison, and we're working hard to make that office successful. We also formed a holding company which will give us flexibility in the future with respect to our capital structure and new product offerings. A number of our key staff members were recently relocated to office space in New Providence and we've updated our computer and telecommunications technology. This is our second annual stock dividend and we will continue to focus on enhancing shareholder value."
Hilltop Community Bank is a state chartered commercial bank which commenced operations on February 7, 2000. The Bank operates as a locally headquartered, community oriented bank engaged in a general commercial banking business. The Bank has offices in Summit, Berkeley Heights and Madison, and administrative offices in New Providence. The service area includes surrounding communities in Union, Essex, Morris and Somerset Counties.
The foregoing contains forward statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not historical facts and include expressions about management's confidence and strategies and management's expectations about new and existing programs and products, relationships, opportunities, technology and market conditions. Such forward-looking statements involve certain risks and uncertainties. These include, but are not limited to, the direction of movements in interest rates, the possibility of disruption in credit markets, successful implementation and integration of acquisitions, the effects of economic conditions and the impact of legal and regulatory barriers and structures. Actual results may differ from such forward-looking statements. The Bank assumes no obligation for updating any such forward-looking statements at any time.
Hilltop Community Bank
In a joint statement, Chairman Richard D. Wellbrock and CEO Mortimer J. O'Shea commented: "We are concluding a busy year at the Bank and we again wanted to signal to our shareholders that we are optimistic about our future. We recently opened our third branch office, in Madison, and we're working hard to make that office successful. We also formed a holding company which will give us flexibility in the future with respect to our capital structure and new product offerings. A number of our key staff members were recently relocated to office space in New Providence and we've updated our computer and telecommunications technology. This is our second annual stock dividend and we will continue to focus on enhancing shareholder value."
Hilltop Community Bank is a state chartered commercial bank which commenced operations on February 7, 2000. The Bank operates as a locally headquartered, community oriented bank engaged in a general commercial banking business. The Bank has offices in Summit, Berkeley Heights and Madison, and administrative offices in New Providence. The service area includes surrounding communities in Union, Essex, Morris and Somerset Counties.
The foregoing contains forward statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not historical facts and include expressions about management's confidence and strategies and management's expectations about new and existing programs and products, relationships, opportunities, technology and market conditions. Such forward-looking statements involve certain risks and uncertainties. These include, but are not limited to, the direction of movements in interest rates, the possibility of disruption in credit markets, successful implementation and integration of acquisitions, the effects of economic conditions and the impact of legal and regulatory barriers and structures. Actual results may differ from such forward-looking statements. The Bank assumes no obligation for updating any such forward-looking statements at any time.
Hilltop Community Bank
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