SAN DIEGO, Sept. 2 /PRNewswire/ -- Bank of Commerce (Nasdaq: BCOM) today
announced it will pay its 42nd consecutive quarterly cash dividend.
Shareholders of record on September 30, 1997, will receive five cents
($.05) per share on the 3rd day of November, 1997. This dividend represents a
56% increase over the dividend paid in the like quarter a year ago and a
25% increase over the dividend paid in the prior quarter this year.
"We have been working hard to build shareholder value and steadily
increase dividends to reward our long term investors," stated Peter Q. Davis,
Chairman and CEO. "Our anticipated increase in future earnings and our
increased loan fundings, together with our intentions to increase loan sales
as previously announced, makes a mid-year dividend increase appropriate."
Bank of Commerce is the nation's leading SBA bank lender and the largest
publicly held independent bank headquartered in San Diego County. The bank
operates eleven specially designated loan production offices in San Diego,
Glendale, Orange, Sacramento, and San Francisco, CA; Las Vegas and Reno, NV;
Phoenix and Tucson, AZ; Seattle, WA and Portland, OR. In addition, Bank of
Commerce operates seven full service branches in San Diego, Palm Desert, and
Riverside, CA.
This company is a client of Len Cereghino & Co. Corporate Investor
Relations. Bank of Commerce's press releases are available at no charge
through PR Newswire's Company News On-Call fax service. For a menu of Bank of
Commerce's press releases or to retrieve a specific release, call 800-IRNEWS9,
extension 123798, or http://www.prnewswire.com/cnoc/exec/menu?123798 .
SOURCE Bank of Commerce
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CONTACT: Peter Q. Davis, Chairman & CEO of Bank of Commerce, 619-232- 2096
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