ANN ARBOR, Mich., Oct. 20 /PRNewswire-FirstCall/ -- Republic Bancorp Inc.,
(Nasdaq: RBNC), today announced that its Board of Directors declared a 10%
stock dividend to shareholders of record on November 4, 2005 and payable on
December 2, 2005. The Board of Directors also declared a quarterly cash
dividend of $.11 per share to shareholders of record on December 9, 2005 and
payable on January 3, 2006. Combined with the 10% stock dividend, this
represents an effective 10% increase in the cash dividend.
"This marks the 20th year in a row that Republic has issued either a stock
dividend or split. Republic's history of stock and cash dividends, and our
stock repurchase programs, demonstrate our continued commitment to increasing
shareholder value," commented Dana M. Cluckey, President and Chief Executive
Officer.
Republic Bancorp Inc., with $6.1 billion in assets, is the third largest
bank holding company headquartered in Michigan and 82nd largest bank holding
company in the country. Its subsidiary, Republic Bank, serves customers in
Michigan, Ohio and Indiana with 95 retail, commercial and mortgage banking
offices and 90 ATMs. Republic has consistently been the #1 Small Business
Administration bank lender based in Michigan and one of the Midwest's top
retail mortgage lenders. Republic was named the 3rd Best Company to Work For
by FORTUNE magazine (marking the fifth year on FORTUNE's "100 Best Companies
to Work For") and named to Working Mother magazine's list of "100 Best
Companies for Working Mothers" for five years in a row.
Information about Republic Bancorp Inc.'s financial results and its
products and services, including on-line mortgage applications and its
Internet banking system, ExpressNet, can be accessed at
http://www.republicbancorp.com .
As with any statements other than those reflecting historical facts,
forward-looking statements contained in this announcement involve risk, and,
as such, future financial performance may differ from current expectations due
to a variety of marketplace factors. These factors include, without
limitation, those disclosed in Republic Bancorp's filings with the Securities
and Exchange Commission.
SOURCE Republic Bancorp Inc.
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Related links:
http://www.republicbancorp.com
CONTACT:
Thomas F. Menacher, Exec. V.P., Treasurer &
CFO, tmenacher@republicbancorp.com , or Kristine D. Brenner,
Director of Investor Relations, kbrenner@republicbancorp.com , of
Republic Bancorp Inc., +1-989-725-7337
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