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VENTURA COUNTY ROUNDUP / BARBARA MURPHY

Channel Islands Bank Declares a Cash Dividend

July 09, 1996|BARBARA MURPHY

The board of directors of Channel Islands National Bank has declared a cash dividend of 10 cents per share to shareholders of record as of June 20.

The dividend will be payable July 25.

This is the third consecutive semiannual cash dividend for the bank, which will be 11 years old in September.

"In the first nine years of the bank's history, stock dividends were the only distributions made," said Edward F. Paul, president and chief executive officer. "With the maturity and increased stability of the bank, cash dividends are a way of rewarding our shareholders."

Channel Islands National Bank is a locally owned and managed community bank with three offices in Ventura County: 155 South A St. and 300 Esplanade Drive, Oxnard, and 2510 Las Posas Road, Camarillo.

The bank also has a loan production office in Thousand Oaks at 2659 Townsgate Road.

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