EXHIBIT 99.1
For release: IMMEDIATELY
Contact: Charles M. Johnston, Chief Financial Officer
Commonwealth Bancorp, Inc.
(610) 313-2189
COMMONWEALTH BANCORP, INC. DECLARES CASH DIVIDEND
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Norristown, PA, June 20, 2000 - Commonwealth Bancorp, Inc. (NASDAQ: CMSB)
announced today that its Board of Directors has declared a cash dividend of
$0.11 per share of common stock. The dividend is payable on July 14, 2000, to
shareholders of record at the close of business on June 30, 2000.
Commonwealth Bancorp, Inc., with consolidated assets of $1.9 billion, is the
holding company for Commonwealth Bank, which has 62 branches throughout
southeast Pennsylvania. ComNet Mortgage Services, a division of Commonwealth
Bank, has offices in Pennsylvania, Maryland, New Jersey, and Virginia. ComNet
also operates under the trade name of Homestead Mortgage in Maryland.
