ANB Declares Second Quarter Dividend and Announces Approval of Share Repurchase Program
April 18 2007 - 7:11PM
PR Newswire (US)
BIRMINGHAM, Ala., April 18 /PRNewswire-FirstCall/ -- Alabama
National BanCorporation (NASDAQ:ALAB) ("ANB") announced today the
declaration of a quarterly cash dividend of $0.41 per share. The
dividend is payable July 3, 2007 to stockholders of record at the
close of business on June 15, 2007. ANB also announced today that
its directors have authorized ANB to repurchase up to 1,000,000
shares of its common stock either through open market purchases or
private transactions, or both. This share repurchase program will
expire December 31, 2008. Shares repurchased under the repurchase
program may be used for general corporate purposes, including
potential future acquisitions and re-issuance under certain stock
benefit plans of ANB. The number of shares actually acquired, if
any, will be subject to management discretion and will depend upon
subsequent developments, market availability and other factors. The
repurchase program does not obligate ANB to acquire any particular
number of shares and may be suspended at any time at the company's
discretion. ANB is a bank holding company operating 102 banking
locations through twelve bank subsidiaries in Alabama, Florida and
Georgia. Alabama subsidiaries include: First American Bank in north
central Alabama; Alabama Exchange Bank in Tuskegee; and Bank of
Dadeville. Florida subsidiaries are: Indian River National Bank in
Vero Beach; First Gulf Bank, N.A. in Escambia County, Florida and
Baldwin County, Alabama; Florida Choice Bank in Central Florida;
Community Bank of Naples, N.A.; Public Bank in metropolitan
Orlando; CypressCoquina Bank in Ormond Beach; and Millennium Bank
in Gainesville. ANB has two subsidiaries in Georgia: Georgia State
Bank and The Peachtree Bank, both in metropolitan Atlanta. ANB
provides full banking services to individuals and businesses.
Commercial mortgage services, including the origination of
permanent commercial real estate mortgage loans for various
lenders, are provided by Byars and Company, a division of First
American Bank. Brokerage services are provided to customers through
First American Bank's wholly owned subsidiary, NBC Securities, Inc.
Investments are not bank guaranteed, not FDIC insured and may lose
value. Alabama National BanCorporation common stock is traded on
the NASDAQ Global Select Market under the symbol "ALAB." This press
release contains forward-looking statements as defined by federal
securities laws. Statements contained in this press release which
are not historical facts are forward-looking statements. These
statements may address issues that involve significant risks,
uncertainties, estimates and assumptions made by management. ANB
undertakes no obligation to update these statements following the
date of this press release. In addition, ANB, through its senior
management, may make from time to time forward-looking public
statements concerning the matters described herein. Such
forward-looking statements are necessarily estimates reflecting the
best judgment of ANB's senior management based upon current
information and involve a number of risks and uncertainties.
Certain factors which could affect the accuracy of such
forward-looking statements are identified in the public filings
made by ANB with the Securities and Exchange Commission, and
forward looking statements contained in this press release or in
other public statements of ANB or its senior management should be
considered in light of those factors. There can be no assurance
that such factors or other factors will not affect the accuracy of
such forward-looking statements. DATASOURCE: Alabama National
BanCorporation CONTACT: John H. Holcomb, III, Chairman of the Board
and Chief Executive Officer, +1-205-583-3648, or William E.
Matthews, V, Executive Vice President and Chief Financial Officer,
+1-205-583-3650, both of Alabama National BanCorporation Web site:
http://www.alabamanational.com/
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