Union State Bank's Parent Company, U.S.B. Holding Co., Inc., Declares Quarterly Cash Dividend of Fourteen Cents Per Share and Se
February 22 2006 - 3:55PM
PR Newswire (US)
ORANGEBURG, N.Y., Feb. 22 /PRNewswire-FirstCall/ -- Thomas E.
Hales, Chairman of the Board of U.S.B. Holding Co., Inc. and
subsidiaries (the "Company") (NYSE:UBH), parent company of Union
State Bank, is pleased to announce that on February 17, 2006, the
Board of Directors of the Company declared a quarterly common stock
cash dividend of fourteen cents ($0.14) per share. The dividend
will be paid on April 14, 2006 to stockholders of record on March
31, 2006. Mr. Hales commented that, "The quarterly common stock
cash dividend can be attributed to the Company's consistent
profitability and strong capital position. The Company recently
reported that net income increased by 18.3 percent to $33.2 million
for the year ended 2005 as compared to 2004." The Board of
Directors of the Company also established the close of business on
April 17, 2006 as the record date for the 2006 Annual Stockholders'
Meeting. The Annual Meeting will be held at the Holiday Inn,
Suffern, New York, on May 24, 2006 at 10:00 a.m. local time. The
Company operates through its banking subsidiary, Union State Bank,
a commercial bank with twenty-eight locations in Rockland and
Westchester counties and one location each in Goshen, Orange
County, New York, Stamford, Connecticut, and New York City. Further
information on Union State Bank can be found at
http://www.unionstate.com/. DATASOURCE: U.S.B. Holding Co. CONTACT:
Thomas M. Buonaiuto, Executive Vice President & Chief Financial
Officer of U.S.B. Holding Co., +1-845-365-4615 Web site:
http://www.unionstate.com/
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