TRI-STATE 1ST BANC INC.
16926 St. Clair Ave., P. O. Box 796
East Liverpool, OH 43920
February 24, 2011
Tri State 1st Banc Declares Dividends
East Liverpool, OH. – The Board of Directors of Tri-State 1st Banc Inc. declared its normal quarterly dividend in the amount of $.05 per share on both Common stock and Preferred Series A stock for the 1st Quarter of 2011. In January, the company paid a 25% stock dividend to its existing shareholders. Since the dividends were not reduced in the 1st Quarter from the previous level, in effect shareholders will receive 25% more as the return on their investment from shares held prior to the stock dividend.
The dividends were declared at a meeting of the Board of Directors on February 23, 2011 and will be paid on March 28, 2011 to shareholders of record on March 7, 2010. The predecessor of the company was the 1st National Community Bank and those shareholders have been paid a dividend each year since 1990. 1st National Community Bank was chartered in June 1987.
There are 986,033 shares of common stock of Tri-State 1st Banc outstanding and if the number of shares does not change on the record date, the company will pay $49,302 to stockholders.
The Board of Directors also approved the payment of the scheduled annual dividend to holders of the Series B Preferred stock at a total cost of $241,600. This dividend will be paid on April 1, 2011 and also is payable to shareholders of record on March 7, 2011.
Charles B. Lang, Chairman of Tri-State 1st Banc Inc., stated: “Capital is the most critical commodity in the financial industry today. Capital enables banks and other financial companies to support deposit growth, assume a reasonable level of risk in building loan portfolios, open additional customer service offices or acquire new offices in new markets. We have been most fortunate over the last 24 years to have so many investors who believed in our mission and this has been primarily responsible for our success. Dividends are the way we can say ‘thank you’ to our investors.”
Tri-State 1st Banc Inc (NASDAQ.BB symbol “TSOH.OB”) is an Ohio Financial Holding Company and is parent company to four subsidiary companies. They are 1st National Community Bank under President Stephen R. Sant, Dr. Marc D. Hoffrichter founded MDH Investment Management Company in 1983 and still serves as its President, Gateminder Corporation was chartered in 1999 and Lance Lang is President, and the newest company to join Tri-State in 2010 is the Cooper Insurance Agency with Stephen W. Cooper who remains as its President.
Founder Charles B. Lang is Chairman and Stephen R. Sant serves as President of the parent company, Tri-State 1st Banc Inc. Stephen Beadnell is Chief Financial Officer having joined the company fulltime in 2010.
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