State National Bancshares, Inc. Declares First Quarterly Cash Dividend
February 15 2006 - 4:25PM
PR Newswire (US)
FORT WORTH, Texas, Feb. 15 /PRNewswire-FirstCall/ -- State National
Bancshares, Inc. (NASDAQ:SNBI) today announced that its board of
directors has declared the company's first quarterly cash dividend
on its common stock. The cash dividend of $0.10 per share of common
stock will be payable on March 13, 2006 to all shareholders of
record at the close of business on March 1, 2006. The company
anticipates paying regular quarterly dividends on its common stock
going forward. "This is an exciting time for our company, as record
growth and profitability have enabled us to reward our shareholders
with this first cash dividend," said Tom C. Nichols, Chairman of
the Board, President and Chief Executive Officer. State National
Bancshares, Inc. reported annual earnings of $16.7 million in 2005,
which equates to $1.54 fully diluted earnings per share. About
State National Bancshares, Inc. State National Bancshares is a bank
holding company, headquartered in Fort Worth, Texas, offering a
broad range of financial products and services primarily through
its main subsidiary, State National Bank, a national banking
association. State National Bank operates through a network of 42
banking centers located throughout Texas and Southern New Mexico.
State National Bank's lending services include real estate,
mortgage, consumer and commercial loans to small to medium-sized
businesses. State National Bank's lending operations are
complemented with an array of retail and commercial deposit
products. State National Bank also offers trust and wealth
management services such as life insurance and securities products.
Forward-Looking Statements This press release contains certain
forward-looking information about State National that is intended
to be covered by the safe harbor for "forward- looking statements"
provided by the Private Securities Litigation Reform Act of 1995.
All statements other than statements of historical fact are
forward- looking statements. Such statements involve inherent risks
and uncertainties, many of which are difficult to predict and are
generally beyond the control of State National. State National
cautions readers that a number of important factors could cause
actual results to differ materially from those expressed in,
implied or projected by, such forward-looking statements. Risks and
uncertainties include, but are not limited to: the possibility that
personnel changes will not proceed as planned; planned acquisitions
and related cost savings cannot be realized or realized within the
expected time frame; costs and uncertainties related to the outcome
of pending litigation; revenues are lower than expected;
competitive pressure among depository institutions increases
significantly; the integration of acquired businesses costs more,
takes longer or is less successful than expected; the cost of
additional capital is more than expected; a change in the interest
rate environment reduces interest margins; general economic
conditions, either nationally or in the market areas in which State
National operates, are less favorable than expected; legislative or
regulatory requirements or changes that adversely affect State
National's business or regulatory capital requirements, or that
alter the regulatory capital treatment of the State National's
trust preferred securities; changes in the securities markets and
other risks that are described in State National's public filings
with the U.S. Securities and Exchange Commission (the "SEC"). If
any of these risks or uncertainties materializes or if any of the
assumptions underlying such forward-looking statements proves to be
incorrect, State National's results could differ materially from
those expressed in, implied or projected by such forward- looking
statements. State National assumes no obligation to update such
forward-looking statements. DATASOURCE: State National Bancshares,
Inc. CONTACT: Don Cosby of State National Bancshares, Inc.,
+1-817-547-1152 Web site: http://www.statenationalbank.com/
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