OTTAWA FINANCIAL CORPORATION
FOR IMMEDIATE RELEASE
May 24, 2000
| CONTACT: | Douglas J. Iverson, Vice Chairman & CEO
(616) 393-7002
Jon W. Swets, SVP & CFO
(616) 224-2841 |
OTTAWA FINANCIAL CORPORATION
DECLARES STOCK AND CASH DIVIDEND
HOLLAND, MICHIGAN, May 24, 2000 -- Ottawa Financial Corporation, parent corporation of
AmeriBank, Holland, Michigan, declared a 10 percent stock dividend payable on June 30, 2000, to
shareholders of record on June 14, 2000. This is the fourth stock dividend declared by the
Corporation in four years. Shareholders will receive one share of common stock for each ten
shares of stock they hold on the record date.
The Corporation also has declared a cash dividend of $0.12 per share. The dividend will be
payable on June 30, 2000, to shareholders of record on June 14, 2000. The $0.12 per share
represents a 10% increase in the cash dividend as it will be paid on all shares including the new
shares issued in the 10% stock dividend.
AmeriBank now operates 27 retail banking offices located in six counties in Western Michigan. The
Corporation had $1.05 billion in assets and $79.0 million in stockholders' equity as of March 31,
2000. The Corporation's stock is traded on the Nasdaq National Market under the symbol
"OFCP".
