Americorp Announces Its Latest Cash Dividend
The board of directors of Americorp, the holding company for American Commercial Bank, has declared an 11-cent-per-share cash dividend to shareholders of record on Sept. 23, which will be paid Friday.
Americorp previously reported semiannual earnings of just over $1 million or 52 cents per share through June 30, an increase of 25.2% over the $860,000--or 44 cents per share--earned for the six months that ended June 30, 1998.
“ACB has been successful in increasing revenue through loan growth while also achieving cost savings as a result of the merger with the former Channel Islands Bank,” said Gerald J. Lukiewski, president and CEO.
Americorp Director Robert J. Lagomarsino said the local economy “has been very favorable for loan growth, and the bank has been able to take advantage of its larger lending limit in helping local businesses expand.”
The board of directors’ announcement marks the 64th consecutive cash dividend Americorp has declared to its shareholders. American Commercial Bank operates full-service branches in Ventura, Oxnard and Camarillo, along with a mortgage loan division serving all of Ventura County. The bank recently relocated its Camarillo branch to 470 Arneill Road.
