Somerset Hills Declares 2nd Quarter Cash Dividend
April 15 2013 - 5:00PM
Somerset Hills Bancorp (Nasdaq:SOMH), announced today that its
Board of Directors had declared a cash dividend of $.08 per share
payable May 6, 2013 to holders of record of the Company's common
stock on April 26, 2013. Under the terms of the Company's Merger
Agreement with Lakeland Bancorp, Inc., the Company is permitted to
continue to pay its regular quarterly cash dividend of $.08 per
share each quarter until the closing of the transaction.
Somerset Hills Bancorp is the holding company for Somerset Hills
Bank, a commercial bank operating through six offices located in
Somerset, Morris and Union Counties, in New Jersey. At December 31,
2012, the Company had net loans receivable of $238.8 million, total
deposits of $320.2 million and total assets of $368.9 million. For
the year ended December 31, 2012, the Company earned net income of
$3.4 million, or $.63 per basic and diluted share.
CONTACT: Stewart E. McClure, Jr.
President & CEO
908.630.5000
Alfred J. Soles
Executive VP & CFO
908.630.5018
Somerset Hills Bancorp (NASDAQ:SOMH)
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