SHELBYVILLE, Ind., Nov. 7 /PRNewswire-FirstCall/ -- Blue River Bancshares, Inc. (BULLETIN BOARD: BRBI.OB) today announced that a quarterly dividend of $.035 per share was declared by the Board of Directors, payable December 1, 2008, to shareholders of record as of the close of business on November 15, 2008.
Russell Breeden, III, Chairman, CEO and President of Blue River commented, "As our shareholders will note, we did not increase the dividend this quarter, as we have done in every quarter since we commenced paying a quarterly cash dividend. Blue River Bancshares has filed an application to participate in the Voluntary Capital Purchase Program which was recently announced by the U.S. Department of the Treasury. If the application is approved, the Board of Directors will be required to make a determination if, and to what extent, Blue River will participate in the program. As such, the Board of Directors determined that it would be prudent to pay a dividend in an amount that is consistent with the requirements of the program, in the event that its application is approved and it determines to participate."
Mr. Breeden also added, "We are pleased with the financial strength which we have at the holding company and our well capitalized bank. We are optimistic about our ability to take advantage of the current banking environment and increase our presence in our marketplace."
Blue River also continues its previously announced stock repurchase program. Approximately 292,000 shares remain available to be purchased. Shareholders who desire to sell their Blue River stock are encouraged to call Mr. Russell Breeden, III at 317-681-1233.
Blue River Bancshares, Inc. is the holding company for SCB Bank which does business in the Shelbyville, Indiana market under the name of Shelby County Bank, a division of SCB Bank.
Certain matters in this news release constitute forward-looking statements. Forward-looking statements can be identified by the fact that they include words like "believe," "expect," "anticipate," "estimate," and "intend," or future or conditional verbs such as "will," "would," "should," "could," or "may". These forward-looking statements relate to, among other things, expectations of the business environment in which Blue River operates, projections of future performance, perceived opportunities in the market and potential future credit experience.
These forward-looking statements are based upon the current beliefs and expectations of Blue River's management and are inherently subject to significant business, economic, and competitive uncertainties and contingencies, many of which are outside of Blue River's control. Blue River's actual results, performance, or achievements may differ materially from those suggested, expressed, or implied by forward-looking statements due to a wide range of factors, including, but not limited to, the general business environment, interest rates, the economy, competitive conditions between banks and non-bank financial services providers, regulatory changes, other factors that may be subject to circumstances beyond Blue River's control.
Blue River undertakes no obligation to revise these statements following the date of this press release.
