DELAWARE, Ohio, Aug. 18 /PRNewswire/ -- DCB Financial Corp
(OTC Bulletin Board: DCBF) President & CEO, Larry Coburn in his quarterly
shareholder letter said, "The first six months of 2000 have been very exciting
for your company. We have experienced unprecedented loan growth in our
subsidiary, The Delaware County Bank & Trust Company and deposit growth
continues as in recent years. We are also very pleased with our commitment to
invest in Century Surety Group and its subsidiaries (PRNewswire 6/30/00). As
disclosed by the media, we joined with four other community banks to acquire
50% of this multi line insurance company and the transaction should be
consummated this fall.
"Financial institutions have been affected by the rising rate environment
brought about by the Federal Reserve Bank to stem inflation. We are not an
exception. Our cost of funds have increased by our desire to remain
competitive and the nature of our deposit base. As a result, we expect some
impact on earnings. However, we remain very confident that we will maintain a
strong capital base, above average asset quality and earnings that will allow
continued growth and shareholder value."
DCB Financial Corp announced a dividend for the second quarter of 2000 in
the amount of .07 cents per share for all shareholders of record July 14, 2000
and payable on August 15, 2000.
SOURCE DCB Financial Corp