FOR FURTHER INFORMATION CONTACT:
Tom P. Smith
President and CEO
(412) 431-9191
UNITED-AMERICAN SAVINGS BANK DECLARES CASH DIVIDEND
Pittsburgh, Pennsylvania – United-American Savings Bank (OTCBB: UASB) today announced the declaration of a $.20 per share cash dividend payable on January 12, 2012, to its stockholders of record as of the close of business on December 31, 2011. “This is our first dividend and we believe it is a significant milestone in our Bank since we went public in 2010. Our Board of Directors is strongly committed to enhancing shareholder value in our Bank. We are able to pay this dividend as a result of the continued profitability of the Bank,” remarked Tom P. Smith, President and Chief Executive Officer, of United-American Saving Bank.
The Board anticipates paying cash dividends on an annual basis, subject to determination and declaration by the Board of Directors, which will take into account a number of factors, including the financial condition of the Bank, and regulatory restrictions on the payment of dividends by the Bank. If paid, such dividends may be reduced or eliminated in future periods.
United-American Savings Bank conducts a traditional community bank operation, offering retail banking services, one- to four-family mortgage loans, multi-family, commercial and other real estate mortgage loans, construction loans, automobile loans, second mortgage loans and other consumer loans. United-American Savings Bank operates from its main office in South Pittsburgh, Pennsylvania. United-American Savings Bank maintains a website at www.uasb.com and its deposits are insured up to the maximum legal amount by the Federal Deposit Insurance Corporation (FDIC). The Bank’s common stock is traded on the OTC Bulletin Board under the symbol “UASB.”
This release may contain forward-looking statements. We caution that such statements may be subject to a number of uncertainties and actual results could differ materially and, therefore, readers should not place undue reliance on any forward-looking statements. United-American Savings Bank does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.