| The Board of Directors of AMB Financial Services Corporation, parent company of American Marine Bank, has declared a cash dividend of $.05 per share on the company’s common stock for the second quarter. The dividend is for shareholders of record on June 30, and was payable on July 15.
Continuing economic uncertainty and the nationwide real estate slowdown have led the Board of Directors to pay this second quarter dividend at this reduced level as a means to preserve capital. The Board of Directors will carefully consider both local and national economic conditions when contemplating future dividend payments.
“Capital preservation in this type of economy is a must” commented Rex Townsend, president and CEO of American Marine Bank. “Uncertain conditions call for a conservative stance on dividends. Maintaining a strong capital position for the bank is important as we see the potential for continued adverse credit conditions.” |
