Tri-State 1st Banc Declares Second Quarter Dividend
May 30, 2008
East Liverpool, OH. - The Board of Directors of Tri-State 1st Banc Inc. has declared a dividend in the amount of $.11 per share on both its preferred stock and common stock for the second quarter of 2008. Tri-State 1st Banc Inc. (NASDAQ.BB symbol "TSOH") is the parent company of the three subsidiaries, 1st National Community Bank, Gateminder Corporation and MDH Investment Management, Inc. The second quarter dividend is a 10% or $.01 per share increase in the payment from the second quarter of 2007 and is in the same amount as the dividend for the first quarter of 2008.
The dividend was declared at the Reorganization meeting of the Board on May 29, 2008 following the re-election of Directors at the Annual Shareholders Meeting held at the East Liverpool Motor Lodge on May 21. The dividend will be paid on June 30th, 2008 to shareholders of record on June 9, 2008.
As a result of a going private transaction approved by shareholders at a special meeting held on March 14, 2008, stockholders were required to exchange their stock certificates for new stock certificates bearing a new CUSIP number. An exchange must be made before a shareholder's stock can be traded and also in order to receive dividends as declared by the Board of Directors including the most recent dividend payable June 30th. Unpaid dividends will be reported to the IRS for tax purposes but will not be paid to a shareholder until an exchange is made.
It was also announced at the Annual Meeting that company stock continues to be traded on the NASDAQ Bulletin Board. However, a new symbol has been assigned to the company shares. The new symbol is "TSOH". The symbol is needed when trading stock or inquiring about company reports and performance. News and reports on the company are also available at the bank internet site at www.1stncb.com.
Charles B. Lang, President of Tri-State 1st Banc Inc., stated: "I am pleased that the Board of Directors has voted to pay the higher return to shareholders again this quarter. It is their investment that has made it possible to have our Bank in this community. I believe that payment of the higher dividend in these unsettled times is an expression of confidence both in the management of the subsidiaries and in the progress made over the prior year's operations."
1st National Community Bank operates five banking offices in Columbiana County, Ohio in Lisbon, Calcutta, East Liverpool and at the Wal-Mart store. The Wal-Mart office will be permanently closed on June 30th when its lease will expire. Customers will be able to conduct their banking at the Calcutta office on Route 170 in Calcutta or at any other banking office that proves convenient including New Cumberland, West Virginia and Midland, Pennsylvania. The Bank will maintain 12 convenient ATM locations at the remaining offices and at seven off-site locations around the tri-state area which includes several grocery stores and family convenience stores. Customers of the bank have use of all these ATMs without a service charge.
The Office of the Comptroller of the Currency chartered 1st National Community Bank on June 1, 1987 as a national banking association. The Bank celebrates its 21th anniversary during the month of June this year.
For more information please contact:
Charles B. Lang, President
Tri-State 1st Banc, Inc
16924 St. Clair Avenue
East Liverpool, OH., 43920
Phone: (330) 385-9200
FAX: (330) 386-7452