Press Release December 20 2011
SOLVAY BANK CORP. DECLARES FOURTH QUARTER DIVIDEND
December 20th, 2011: The Board of Directors of Solvay Bank Corp., the holding company for Solvay Bank, declared a fourth quarter dividend of $0.27 per share. The dividend is payable on January 25th, 2012 to shareholders of record on January 6th, 2012. The dividend represents a 3.6% decrease over the dividend paid for the fourth quarter of 2010, which was $.26 per share with an additional special dividend of $.02 per share for a total of $.28 per share.
Solvay Bank celebrates its 94th anniversary this year, making it the oldest independent commercial bank headquartered and operating in Onondaga County, and is committed to providing its customers with the very best in financial products and customer service. Solvay Bank has a main office located at 1537 Milton Avenue in Solvay and seven branches conveniently located in Camillus, Fairmount, Liverpool, Cicero, North Syracuse, downtown Syracuse and Westvale. Solvay Bank also owns a full service general insurance agency, Solvay Bank Insurance Agency, Inc. The Solvay Bank web site can be reached at www.solvaybank.com.
For additional information, please contact: Karen Zarach, Solvay Bank (315) 484-2213.