Peoples Community Bancorp Ends Dividend

By Associated Press
December 7, 2007 | Comments (0)

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Bank holding company Peoples Community Bancorp Inc. said Friday it has stopped paying its regular quarterly dividend as it prepares to be acquired by Integra Bank Corp.

The company, the parent of Peoples Community Bank in West Chester, Ohio, said it is canceling the dividend of 15 cents per share to improve its ability to meet the terms of its agreement with Integra. The companies agreed to the $85.6 million cash-and-stock deal in September.

The deal is expected to close in the first quarter of 2008.

Shares of Peoples Community Bancorp fell $1.12, or 7 percent, to $14.88.

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