Bank of Wilmington Corporation Declares 5% Stock Dividend
June 12 2006 - 8:00AM
PR Newswire (US)
WILMINGTON, N.C., June 12 /PRNewswire-FirstCall/ -- Bank of
Wilmington Corporation (NASDAQ:BKWW) announced today that its Board
of Directors has approved a 5% stock dividend on the company's
outstanding common stock. The stock dividend will be paid on June
30, 2006, to shareholders of record on June 22, 2006. As a result
of the stock dividend, each holder of shares of the company's
common stock on the record date will receive one new share of
common stock for each twenty whole shares held of record on that
date. In lieu of issuing fractional shares, the company will pay
cash based on the average of the closing bid and asked prices of
its common stock on The Nasdaq Capital Market on the record date.
About the Company Bank of Wilmington (the "Bank") was established
in 1998 as a local bank, developed and managed by local people
committed to improving the quality of life and the quality of the
banking experience in the communities it serves. Bank of Wilmington
Corporation was formed as the Bank's parent holding company in June
2005. The Bank's market area includes the counties of New Hanover,
Pender, and Brunswick, serving southeastern North Carolina, through
five full- service banking locations: 1117 Military Cutoff Road;
3702 South College Road in the Pine Valley neighborhood; 14572 US
Highway 17 in Hampstead; 206 North Topsail Drive in Surf City, and
503 Olde Waterford Way in Leland. The Company's stock is listed on
The Nasdaq Capital Market under the symbol 'BKWW.' Forward-Looking
Statements This news release contains comments or information that
constitute forward-looking statements (within the meaning of the
Private Securities Litigation Reform Act of 1995) that are based on
current expectations that involve a number of risks and
uncertainties. Actual results may differ materially from the
results expressed in forward-looking statements. Factors that might
cause such a difference include changes in interest rates and
interest rate relationships; changes in demand for products and
services; changes in the degree of competition by traditional and
non-traditional competitors; changes in banking regulation; changes
in tax laws; changes in prices, levies, and assessments; the impact
of technological advances; governmental and regulatory policy
changes; the outcomes of contingencies; trends in customer behavior
as well as their ability to repay loans; changes in the national
and local economy; and other factors, including risk factors,
referred to from time to time in filings made by Bank of Wilmington
Corporation with the Securities and Exchange Commission. Bank of
Wilmington Corporation undertakes no obligation to update or
clarify forward-looking statements, whether as a result of new
information, future events or otherwise. DATASOURCE: Bank of
Wilmington Corporation CONTACT: J. Cameron Coburn, Chairman,
President & CEO, +1-910-509-3901, or , or Betty V. Norris, SVP
& Chief Financial Officer, +1-910-509-3914, or , both of Bank
of Wilmington Corporation
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