Local Bank To Issue 10% Stock Dividend

Thu., Jan. 22, 1998

From Staff And Wire Reports

United Security Bancorporation of Spokane will issue a 10 percent stock dividend Feb. 10 to holders of record Jan. 27.

The bank has issued three previous stock dividends since going public in May 1995.

Chairman William “Bud” Dashiell said that with the shares issued next month, plus appreciation in the price of the stock, the value of shares acquired when the bank holding company went public has tripled.

Stockholders will get 10 additional shares for every 100 owned, with cash paid in lieu of fractional shares. The newly issued stock will bring the total float to 4.1 million shares.

United Security Bancorporation is the parent of Spokane-based United Security Bank, Home Security Bank, with branches in the Yakima and Columbia valleys, and Bank of Pullman.

Earnings will be released in two weeks.

, DataTimes

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Local Bank To Issue 10% Stock Dividend

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