BOCA RATON, Fla., July 23, 2013 /PRNewswire/ -- 1st
United Bancorp, Inc. ("1st United") (Nasdaq: FUBC), the
holding company for 1st United Bank, a Florida chartered commercial bank, announced
today that its board of directors has declared a cash dividend of
$0.01 per share on shares of
1st United common stock, payable on August 15, 2013 to shareholders of record as of
the close of business on August 5,
2013.
About 1st United Bancorp, Inc.
1st United is a financial holding company
headquartered in Boca Raton,
Florida. 1st United's principal subsidiary,
1st United Bank, is a Florida chartered commercial bank, which
operates 23 branches in South and Central
Florida, including Brevard,
Broward, Hillsborough, Indian
River, Miami-Dade,
Orange, Palm Beach, Pasco and Pinellas Counties. 1st United's
principal executive office and mailing address is One North Federal
Highway, Boca Raton, FL 33432 and
its telephone number is (561) 362-3435. 1st
United's stock is listed on the Nasdaq Global Select Market under
the symbol "FUBC".
Forward Looking Statements
Any non-historical statements in this press release are
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Such
forward-looking statements are based on current plans and
expectations that are subject to uncertainties and risks, which
could cause 1st United's future results to differ
materially. The following factors, among others, could cause
our actual results to differ: the adequacy of our cash flow and
earnings and other conditions that may affect our ability to pay
our quarterly dividend at the planned level; our ability to comply
with the terms of loss sharing agreements with the FDIC;
legislative and regulatory changes, including the Dodd-Frank Wall
Street Reform, Consumer Protection Act and Basel III, the
strength of the United States
economy in general and the strength of the local economies in which
we conduct operations; the accuracy of our financial statement
estimates and assumptions, including the estimate of our loan loss
provision and the FDIC receivable; our ability to integrate the
business and operations of companies and banks that we have
acquired, and those that we may acquire in the future; the failure
to achieve expected gains, revenue growth, and/or expense savings
from future acquisitions; the frequency and magnitude of
foreclosure of our loans; the reduction in FDIC insurance on
certain non-interest bearing accounts due to the expiration of the
Transaction Account Guarantee program; increased competition and
its effect on pricing including the long-term impact on our net
interest margin from repeal of regulation Q; our customers'
willingness to make timely payments on their loans; the effects of
the health and soundness of other financial institutions; changes
in securities and real estate markets; changes in monetary and
fiscal policies of the U.S. Government; inflation, interest rate,
market, and monetary fluctuations; the effects of our lack of a
diversified loan portfolio, including the risks of geographic and
industry concentrations; our need and our ability to incur
additional debt or equity financing; the effects of harsh weather
conditions, including hurricanes, and man-made disasters; our
ability to comply with the extensive laws and regulations to which
we are subject; the willingness of clients to accept third-party
products and services rather than our products and services and
vice versa; technological changes; negative publicity and the
impact on our reputation; the effects of security breaches and
computer viruses that may affect our computer systems; changes in
consumer spending and saving habits; changes in accounting
principles, policies, practices or guidelines; limited trading
activity of our common stock; the concentration of ownership of our
common stock; our ability to retain key members of management;
anti-takeover provisions under federal and state law as well as our
Articles of Incorporation and our Bylaws; other risks described
from time to time in our filings with the Securities and Exchange
Commission; and our ability to manage the risks involved in the
foregoing. These factors, as well as additional factors, can
be found in our periodic and other filings with the SEC, which are
available at the SEC's internet site (http://www.sec.gov). Actual
results may differ materially from projections and could be
affected by a variety of factors, including factors beyond our
control. Forward-looking statements in this press release speak
only as of the date of the press release, and 1st United
assumes no obligation to update forward-looking statements or the
reasons why actual results could differ.
SOURCE 1st United Bancorp, Inc.