LAKE HAVASU CITY, Ariz., June 23 /PRNewswire-FirstCall/ -- Mohave State Bank, wholly owned subsidiary of State Bank Corp. (BULLETIN BOARD: SBAZ) declares a cash dividend. The Board of Directors of State Bank Corp., at their regular meeting of June 22, 2006, declared the payment of a cash dividend of eight cents per share to shareholders of record at the close of business on July 5, 2006. This dividend is payable on July 21, 2006. "The dividend will be accompanied by our condensed statement of financial condition. We expect our shareholders to be pleased with our mid-year financial performance. Our forecasted mid-year earnings growth and earnings per share growth will exceed 17%," states Ralph Tapscott, President and CEO.
Tapscott goes on to say, "We are excited about our expansion into the Yuma market place. Our office opens in July; we have booked our first loan in Yuma, and already have a loan pipeline of approximately $4 million. Yuma is just an exciting market, and Brian Geren is already making things happen for us."
Mohave State Bank is a full service bank providing deposit and loan products, and convenient on-line banking to individuals, businesses and professionals. Mohave State Bank was established in October 1991, in Lake Havasu City. Since then the Bank has opened another branch in north Lake Havasu City and branches in the Mohave County communities of Kingman and Bullhead City.
This press release includes forward-looking statements about the corporation for which the corporation claims the protection of safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on management's knowledge and belief as of today and include information concerning the corporation's possible or assumed future financial condition, and its results of operations and business. Forward-looking statements are subject to risks and uncertainties. A number of important factors could cause actual results to differ materially from those in the forward-looking statements. Those factors include fluctuations in interest rates, government policies and regulations (including monetary and fiscal policies), legislation, economic conditions, credit quality of borrowers, operational factors and competition in the geographic and business areas in which the Company conducts its operations. All forward-looking statements included in this press release are based on information available at the time of the release, and the Company assumes no obligation to update any forward-looking statement.
Contact: Ralph Tapscott / Vic Berbano
Phone: (928) 855-0000
http://www.mohavestbank.com/
