SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) June 24. 1998
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CASTLE BANCGROUP, INC.
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(Exact Name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
0-25914 36-3238190
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(Commission File Number) (IRS Employer
Identification No.)
121 W. Lincoln Hwy. DeKalb, Il. 60115
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(Address including zip code of Principal Executive Offices)
Registrant's telephone number, including area code (815) 758-7007
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Item 5. Other Events
Incorporated by reference is a press release issued by the Registrant
on June 24, 1998, attached as Exhibit 99, providing information
concerning the Registrant's announcement of its intention to pay a
semi-annual dividend and inform stockholders regarding its
relationship with ABN-AMRO, a Chicago, Illinois based investment and
brokerage firm being used to provide a primary market in the
registrant's common stock.
Item 7. Financial Statements and Exhibits
(a) Exhibit
Exhibit 99 - Press release issued June 24, 1998
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this Report to be signed on its
behalf by the undersigned hereunto duly authorized.
CASTLE BANCGROUP, INC.
Date: June 30, 1998 By: /s/ Victoria S. Maher
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Victoria S. Maher
Chief Accounting Officer and
Controller<PAGE>
EXHIBIT INDEX
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Exhibit
Number Description
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99 Press release issued June 24, 1998
Castle BancGroup, Inc. FOR MORE INFORMATION, CONTACT:
John W. Castle
Chairman and Chief Executive Officer
or
Thomas D. Young
Senior Vice President
DeKalb, Illinois
June 24, 1998
CASTLE BANCGROUP, INC. DECLARES DIVIDEND AND MOVES TO MAKE
STOCK MORE AVAILABLE TO PUBLIC
Castle BancGroup, Inc. announced that its Board of Directors approved
a $0.12 per share semiannual cash dividend. This is consistent with
the $0.12 per share semi-annual cash dividend declared in December,
1997 and up from the $0.10 per share semi-annual cash dividend
declared in June, 1997. This marks 53 consecutive years in which the
company has paid shareholders a cash dividend,
Castle BancGroup, Inc. also disclosed that it will use the services of
ABN-AMRO, Inc., a Chicago, Illinois based investment banking and
brokerage firm, to make a public market in the bank holding company's
common stock. Commenting on the arrangement with ABN-AMRO, Chairman
and Chief Executive Officer, John W. Castle, said, "Wayne Hummer
Investments LLC. a Chicago stock brokerage firm, has done an excellent
job as an intermediary in the purchase and sale of our common shares
since 1992 and will continue to act as a broker in our shares.
However, the demand for shares of Castle BancGroup, Inc.'s common
stock has now reached the level at which we feel it is in the best
interest of our shareholders to have access to a formal, public market
in our stock." Mr. Brian R. Foster will be ABN-AMRO 's representative
regarding the stock and can be reached at 312-855-6608 or 800-621-
4477.
Castle BancGroup, Inc., a multi-bank holding company, is headquartered
in DeKalb, Illinois and has four subsidiary community banks: First
National Bank in DeKalb/Sycamore, with four locations; The Sandwich
State Bank, with four locations; Castle Bank Harvard, N.A., formerly
First State Bank of Harvard, with two locations; and The Bank of
Yorkville. with one location. The company also owns Castle Finance
Company, with seven locations in north central Illinois; and CasBanc
Mortgage, Inc., with six locations in Chicago, the Chicago suburbs,
and Merrillville, Indiana.
