Community Banks, Inc. Declares Fourth Quarter Cash Dividend
07 Novembre 2006 - 10:35PM
PR Newswire (US)
HARRISBURG, Pa., Nov. 7 /PRNewswire-FirstCall/ -- Community Banks,
Inc. ("Community") (NASDAQ:CMTY) parent company of CommunityBanks,
has declared a quarterly cash dividend of $.20 per share payable
January 2, 2007 to shareholders of record on December 19, 2006.
Community recently announced third quarter net income of $10.6
million, which resulted in per share earnings of $0.45.
Year-to-date earnings per share for 2006 grew to $1.32, a
substantial 53% increase over the $0.86 recorded in 2005. Results
in 2005 had been adversely affected by $8 million in pre-tax
merger, conversion, and restructuring expenses that were recorded
leading to the consummation of its mid-year merger with Blue Ball
Bank. During the third quarter of 2006, Community announced two
additional important banking partners when it revealed its plans to
acquire East Prospect State Bank and BUCS Financial Corp. These two
combinations are expected to be completed in early 2007.
Community's current operating footprint, which boasts assets of
$3.4 billion and 74 banking offices, extends throughout the center
of Pennsylvania from the Pocono region to just over the Maryland
border. Community Banks, Inc. is the 8th largest financial services
holding company headquartered in Pennsylvania and the largest
financial institution headquartered in its capital city of
Harrisburg. This press release contains "forward-looking"
information as defined by the Private Securities Litigation Reform
Act of 1995, which is based on Community's current expectations,
estimates, and projections about future events and financial trends
affecting the financial condition of its business. These statements
are not historical facts or guarantees of future performance,
events, or results. Such statements involve potential risks and
uncertainties and, accordingly, actual performance results may
differ materially. Community undertakes no obligation to publicly
update or revise forward-looking information, whether as a result
of new, updated information, future events or otherwise.
DATASOURCE: Community Banks, Inc. CONTACT: Patricia E. Hoch,
Corporate Secretary, Community Banks, Inc., +1-717-920-5811, Fax:
+1-717-920-8040 Web Site: http://www.communitybanks.com/
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