First National Bankshares of Florida Announces 3% Stock Dividend and Quarterly Cash Dividend at Annual Meeting
20 April 2004 - 4:02PM
PR Newswire (US)
First National Bankshares of Florida Announces 3% Stock Dividend
and Quarterly Cash Dividend at Annual Meeting NAPLES, Fla., April
20 /PRNewswire-FirstCall/ -- First National Bankshares of Florida,
Inc. , a diversified financial services company focused on
expansion in the high-growth Florida market, announced that its
Board of Directors has declared a 3% stock dividend. This dividend
is payable on July 15, 2004, to all shareholders of record as of
June 30, 2004. (Logo:
http://www.newscom.com/cgi-bin/prnh/20031230/FNBFLOGO ) "We are
delighted that our strong performance enables us to reward
shareholders with an annual stock dividend," said Gary L. Tice,
Chairman and Chief Executive Officer of First National Bankshares.
"This dividend has proven to be very popular with shareholders."
The announcement was made during the company's Annual Meeting of
Shareholders in Naples, Florida. Also during the meeting, First
National Bankshares announced that its Board has declared a
quarterly cash dividend of $0.07 per share on its common stock. The
dividend is payable on May 15, 2004, to all shareholders of record
as of May 1, 2004. Also during the meeting, shareholders reelected
three members to the First National Bankshares of Florida Board of
Directors. They are: G. Scott Baton, II, former Chairman and CEO of
Chestnut Ridge Foam, Inc.; David A. Straz, Jr., former Chairman and
President of Charter Banking Corp.; and Lee Roy Selmon, Tampa
businessman and President of the Foundation Partnership for
Athletics at the University of South Florida. Shareholders also
approved the company's Amended and Restated 2003 Incentive Plan.
First National Bankshares of Florida, Inc. is a $4.0 billion
diversified financial services company headquartered in Naples,
Florida. In addition to traditional banking, the company provides a
complete line of insurance and wealth management services with 59
full-service financial centers throughout Southwest and Central
Florida. The company's common stock is traded on the New York Stock
Exchange under the symbol "FLB." On March 22, 2004, First National
Bankshares of Florida announced the acquisition of Southern
Community Bancorp. Headquartered in Orlando, Florida, Southern
Community has more than $1 billion in total assets and 18 full-
service banking offices located throughout South and Central
Florida. The transaction, which is subject to normal regulatory and
shareholder approvals, is expected to close in the third quarter of
2004. Once the merger is completed, all Southern Community Bank
branches will become part of First National Bank of Florida. First
National Bank will then have 77 full-service financial centers,
more than $5.0 billion in total assets and nearly $4.0 billion in
deposits, making it the largest, independent commercial bank
headquartered in the state of Florida. Except for the historical
and present factual information contained herein, the matters set
forth in this press release, including statements as to the
expected date of the closing of the acquisition of Southern
Community Bancorp by First National Bankshares of Florida, Inc.,
financial and operating results, benefits and synergies of the
merger, future opportunities and any other effect, result or aspect
of the transaction, and other statements identified by words such
as "believes," "expects," "projects," "plans," "anticipates," and
similar expressions, are forward-looking statements within the
meaning of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. Such statements involve risks and
uncertainties including, but not limited to, costs, delays, and any
other difficulties related to the merger, failure of the parties to
satisfy closing conditions, risks and effects of legal and
administrative proceedings and governmental regulations, future
financial and operating results, competition, economic conditions,
ability to manage and continue growth, and other risk industry
factors as detailed from time to time in First National Bankshares'
and Southern Community's reports filed with the Securities and
Exchange Commission. First National Bankshares and Southern
Community disclaim any responsibility to update these
forward-looking statements. CONTACT: Clay W. Cone Vice President,
Director of Corporate Communications 239-436-1676
http://www.newscom.com/cgi-bin/prnh/20031230/FNBFLOGO
http://photoarchive.ap.org/ DATASOURCE: First National Bankshares
of Florida, Inc. CONTACT: Clay W. Cone, Vice President, Director of
Corporate Communications, First National Bankshares,
+1-239-436-1676 Web site: http://www.firstnationalbankshares.com/
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