Solvay Bank

Press Releases - Archives - 2005
SOLVAY BANK CORP. DECLARES RECORD FOURTH QUARTER CASH DIVIDEND Thursday, December 22, 2005 The Board of Directors of Solvay Bank Corp., the holding company for Solvay Bank, declared on December 20, 2005 a record fourth quarter dividend of $.22 per share. The dividend is payable on January 23, 2006 to shareholders of record on January 3, 2006. The dividends declared in 2005 of $.76 per share reflect an 8.6% increase over the dividends declared in 2004. Solvay Bank is 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 six branches conveniently located in Camillus, Fairmount, Liverpool, North Syracuse, downtown Syracuse, and Westvale. Solvay Bank also owns a full service general insurance agency, Solvay Bank Insurance Agency, Inc. The Bank's Website can be reached at www.solvaybank.com. SOLVAY BANK CORP. DECLARES RECORD THIRD QUARTER CASH DIVIDEND Wednesday, October 05, 2005 The Board of Directors of Solvay Bank Corp., the holding company for Solvay Bank, declared on October 4, 2005, a third quarter dividend of $.18 per share. The dividend is payable on October 21, 2005 to shareholders of record on October 5, 2005. The dividend represents a 12.5% increase over 2004's third quarter dividend of $.16 per share. Solvay bank is the oldest independent community 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 six branches conveniently located in Camillus, Fairmount, Liverpool, North Syracuse, downtown Syracuse and Westvale. Solvay Bank also owns a full service general insurance agency, Solvay Bank Insurance Agency, Inc. The Bank's Website can be reached at www.solvaybank.com. SOLVAY BANK CORP. DECLARES RECORD SECOND QUARTER CASH DIVIDEND Monday, June 27, 2005 The Board of Directors of Solvay Bank Corp., the holding company for Solvay Bank, declared on June 21, 2005, a second quarter dividend of $.18 per share. The dividend is payable on July 22, 2005 to shareholders of record on July 1, 2005. The dividend represents a 12.5% increase over 2004's second quarter dividend of $.16 per share. Solvay Bank is 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 six branches conveniently located in Camillus, Fairmount, Liverpool, North Syracuse, downtown Syracuse, and Westvale. Solvay Bank also owns a full service general insurance agency, Solvay Bank Insurance Agency, Inc. The Bank's Website can be reached at www.solvaybank.com. SOLVAY BANK INSURANCE AGENCY, INC. BECOMES A TRUSTED CHOICE AGENCY Friday, May 27, 2005 Paul P. Mello, President and Chief Executive Officer of Solvay Bank, announced that its insurance subsidiary, Solvay Bank Insurance Agecny, Inc. (SBIA) is enrolled as a Trusted Choice Agency, through membership in the Independent Insurance Agents and Brokers of NY (IIABNY). As a Trusted Choice Agency, SBIA is committed to providing customers with excellent customer service by offering a broad selection of personal and business coverage choices, customized to meet each client's specialized needs. SBIA provides a full range of insurace products including automobile, home, life, disability, fixed annuities, credit life and disability, long - term care, as well as employee benefits. SBIA is a subsidiary of Solvay Bank, the oldest independent commercial bank headquartered and operating in Onondaga County. The Trusted Choice brand complements the Bank's overall commitment of providing the very best in financial products and services to its customers. You can visit SBIA online at www.solvaybankinsurance.com or call 315-468-1661. SOLVAY BANK CORP. DECLARES RECORD FIRST QUARTER DIVIDEND Tuesday, March 22, 2005 The Board of Directors of Solvay Bank Corp. declared, on March 15, 2005, a first quarter dividend of $.18 per share. The dividend is payable on April 22, 2005 to shareholders of record on April 1, 2005. The dividend represents a 12.5% increase over 2004's first quarter dividend of $.16 per share, as adjusted for the two - for- one stock split paid in the form of a 100% stock dividend. The two - for- one stock split was issued on June 16, 2004. Solvay Bank is 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 five branches conveniently located in Fairmount, Camillus, North Syracuse, downtown Syracuse and Westvale. Solvay Bank also owns a full service general insurance agency, Solvay Bank Insurance Agency, Inc. (SBIA). The Bank's Website can be reached at www.solvaybank.com. SOLVAY BANK CORP. ACHIEVES RECORD EARNINGS IN 2004 Monday, January 31, 2005 Solvay Bank Corp., the holding company for Solvay Bank, completed its most successful year ever, achieving record earnings and all -time highs in assets, loans, and investments. Net income for the year was $4.9 million, increasing 3.9% over the previous year. Net income for the fourth quarter was $1.3 million, up 6.2% over earnings in the fourth quarter of 2003. For the year, the cash dividends declared on its common stock increased 16.7% to a record payout of $0.70 per share, as adjusted for the two -for -one stock split in the form of a 100% stock dividend issued on June 16, 2004. Total assets reached a record $438.1 million, and total loans grew 5.1% to $312.4 million. The Bank recently announced plans to open its seventh banking office this summer, to be located in the Glenn Crossing Plaza, at the corner of Long Branch Road and Route 57 in Liverpool. The Bank also plans to offer retail brokerage services. Founded in 1917, Solvay Bank is 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 five branches conveniently located in Fairmount, Camillus, 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.