Horizon Financial Declares 15% Stock Dividend

Apr 25, 2001, 01:00 ET from Horizon Financial Corp.

    BELLINGHAM, Wash., April 25 /PRNewswire/ --
 Horizon Financial (Nasdaq:   HRZB) today announced its Board of Directors
 declared a 15% stock dividend to be issued June 4, 2001 to shareholders of
 record May 11, 2001.
     "We believe that stock and cash dividends are an excellent method of
 sharing the company's success with its owners," stated V. Lawrence Evans,
 President and Chief Executive Officer.  "This marks the eighth time in our
 15 years as a public company we have paid a stock dividend to our
 shareholders.  In addition, we have paid a regular quarterly cash dividend
 since 1988, as well as some fairly significant special cash dividends."
     Each shareholder will receive 15 additional shares of common stock for
 every 100 shares currently owned.  A cash payment will be made in lieu of
 fractional shares.  Following the dividend, Horizon will have approximately
 8.9 million shares outstanding.
     Horizon Financial Corp. is a $730 million, state-chartered bank holding
 company headquartered in Bellingham, Washington.  The corporation's primary
 subsidiary, Horizon Bank, operates 15 full-service offices throughout Whatcom,
 Skagit and Snohomish Counties.
 
     CONTACT:  V. Lawrence Evans, President & CEO, or Rich Jacobson, Executive
 VP & CFO, of Horizon Financial Corp., 360-733-3050
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X67245888
 
 

SOURCE Horizon Financial Corp.
    BELLINGHAM, Wash., April 25 /PRNewswire/ --
 Horizon Financial (Nasdaq:   HRZB) today announced its Board of Directors
 declared a 15% stock dividend to be issued June 4, 2001 to shareholders of
 record May 11, 2001.
     "We believe that stock and cash dividends are an excellent method of
 sharing the company's success with its owners," stated V. Lawrence Evans,
 President and Chief Executive Officer.  "This marks the eighth time in our
 15 years as a public company we have paid a stock dividend to our
 shareholders.  In addition, we have paid a regular quarterly cash dividend
 since 1988, as well as some fairly significant special cash dividends."
     Each shareholder will receive 15 additional shares of common stock for
 every 100 shares currently owned.  A cash payment will be made in lieu of
 fractional shares.  Following the dividend, Horizon will have approximately
 8.9 million shares outstanding.
     Horizon Financial Corp. is a $730 million, state-chartered bank holding
 company headquartered in Bellingham, Washington.  The corporation's primary
 subsidiary, Horizon Bank, operates 15 full-service offices throughout Whatcom,
 Skagit and Snohomish Counties.
 
     CONTACT:  V. Lawrence Evans, President & CEO, or Rich Jacobson, Executive
 VP & CFO, of Horizon Financial Corp., 360-733-3050
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X67245888
 
 SOURCE  Horizon Financial Corp.