TRI-STATE 1ST BANC INC.
16926 St. Clair Ave., P. O. Box 796
East Liverpool, OH 43920
December 8, 2010
Tri State 1st Banc Declares Stock Dividend
East Liverpool, OH. – The Board of Directors of Tri-State 1st Banc Inc. has declared a special 25% stock dividend on all shares outstanding on the record date in December set by the Board.. Each shareholder will receive one additonal share for each four shares owned. No fractional shares are to be issued so shareholders will receive a proportionate share of cash in lieu of any fractions that they would have been entitled to receive.
The record date for a shareholder to be entitled to the stock dividend is December 21, 2010. Shares acquired after that date will not include the right to additional shares. Stock certificates representing the new shares will be issued on January 14, 2011.
The stock dividend is in addition to a special year-end onetime dividend declared on November 17th. The Board of Directors of the company had declared a regular quarterly cash dividend of $.05 per share on its stock plus a special year-end onetime dividend of $.02 per share. This resulted in an increased dividend payout for 2010 by 10% over the dividend payment for the year 2009. Tri-State 1st Banc has received approval from the Federal Reserve Bank as required of a financial holding company prior to the declaration of all dividends declared this year.
Charles B. Lang, Chairman of the company, stated: “It appears that the company will enjoy one of its finest years ever in terms of profitability and accomplishment of objectives in 2010. It has been a year of many challenges and I give full credit to strong leadership of our four subsidiaries who worked hard to make this year a special one for the company. Their efforts have allowed us to begin the process of better rewarding our stakeholders who provide the capital investment so critical to financial institutions in the banking industry today. If the dividend rate remains the same next year after this stock dividend, it would result in a 25% increase in the amount of dividends received by a shareholder on each of his or her present shares of stock.”
Tri-State 1st Banc Inc. is the parent company of four subsidiary companies. Stephen R. Sant serves as President of 1st National Community Bank, the flagship of the four subsidiaries. Dr. Marc Hoffrichter is President & CEO of the MDH Investment Management Inc., Lance Lang serves in the same capacity at Gateminder Corporation and Stephen W. Cooper is President & CEO of the Cooper Insurance Agency. 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