TRI-STATE 1ST BANC INC.
16926 St. Clair Ave., P. O. Box 796
East Liverpool, OH 43920
November 18, 2010
Tri State 1st Banc Declares Larger Dividend Payout
East Liverpool, OH. – The Board of Directors of Tri-State 1st Banc Inc. declared its regular quarterly dividend in the amount of $.05 per share on both its Common stock and Preferred Series A stock for the 4th Quarter of 2010. Also, in recognition of the successful year 2010 for the company, the Board of Directors voted to pay a special year-end bonus of $.02 per share to both classes of shareholders of the company. The two payments total $.07 per share for the Quarter resulting in a 40% increase in dividends over the $.05 per share paid for each of the first three quarters of 2010 and the 4th Quarter dividend paid a year ago in December of 2009.
The dividends were declared at a meeting of the Board of Directors on November 17, 2010 and will be paid on December 20, 2010 to shareholders of record on November 29, 2010. The company has paid a dividend to its shareholders each year since 1990. As a Financial Holding Company, Tri-State is required to receive approval of the Federal Reserve Bank for payment of all dividends. A letter was received dated November 9th indicating the Federal Reserve Bank approval of both the regular and special dividends.
Charles B. Lang, Chairman of Tri-State 1st Banc Inc., stated: “This is the first time that it has been appropriate for our company to increase dividends since the country found itself in economic turmoil in early 2008. Many financial institutions at that time found it prudent to reduce or even eliminate dividend payments to shareholders in order to conserve capital. We are pleased to be among the first companies to begin restoring a better dividend return on investment to shareholders.”
Tri-State 1st Banc Inc (NASDAQ.BB symbol “TSOH.OB”) is the parent company of four subsidiary companies. They are Cooper Insurance Agency, Gateminder Corporation, 1st National Community Bank and MDH Investment Management Inc.
Stephen R. Sant serves as President of 1st National Community Bank, the largest of the four subsidiaries with executive offices at 16924 St. Clair Avenue in East Liverpool and Sant also serves as President of the parent company, Tri-State 1st Banc Inc. Stephen Beadnell is Chief Financial Officer of the company.
Stephen Beadnell, CFO
Tri-State 1st Banc Inc.
16926 St. Clair Avenue
P. O. Box 796
East Liverpool, OH. 43920
(330) 385-9200 FAX (330) 386-7452