SOURCE: Granite Community Bank, N.A.

March 05, 2007 17:14 ET

Granite Community Bank Offering 5 Percent Stock Dividend

GRANITE BAY, CA -- (MARKET WIRE) -- March 5, 2007 -- Granite Community Bank, N.A. (OTCBB: GCBK) today announced that its Board of Directors has authorized a five percent (5%) stock dividend to be distributed on April 15, 2007 to shareholders of record as of March 16, 2007. The dividend will grant shareholders one additional share of Granite Community Bank, N.A. stock for every twenty shares currently owned. No fractional shares will be issued; fractional shares will be rounded up to the nearest whole share. The stock dividend will increase the Bank's total number of shares outstanding to approximately 1,339,800.

David R. Kaiser, President and Chief Executive Officer, stated, "We are proud to present this dividend to our shareholders in appreciation of their continued support of Granite Community Bank. We are pleased to be able to take this action on behalf of our shareholders, many of whom have been loyal supporters and investors from the Bank's inception."

Granite Community Bank, N.A. was founded in June of 2002 and is headquartered in Granite Bay, California. A full service community bank serving Placer County, California, Granite Community Bank offers a full array of financial products and services through three offices located in Granite Bay, Auburn and Roseville, California. The Bank also operates a mortgage loan production office in Paradise, Butte County, California.

Cautionary Statement: This release may contain certain forward-looking statements that are subject to risks and uncertainties that could cause actual results and events to differ materially from those stated herein. Words such as "anticipate," "believe," "estimate," "expect," "should," "intend," "project," and words or phrases of similar meaning are intended to identify forward-looking statements. Management's assumptions and projections are based on their anticipation of future events and actual performance may differ materially from those projected.

Contact Information

  • For additional information please contact:
    David R. Kaiser
    Email Contact
    4100 Douglas Blvd
    Granite Bay, California 95746