MOUNT CLEMENS, Mich., May 21 MI-Community-Central
MOUNT CLEMENS, Mich., May 21 /PRNewswire-FirstCall/ -- Community Central
Bank Corporation (Nasdaq: CCBD), the holding company for Community Central
Bank, today announced that the Corporation will pay a quarterly cash dividend
of $0.02 per share on the Corporation's common stock. The dividend is payable
on July 1, 2008 to shareholders of record on June 2, 2008.
David A. Widlak, President and CEO commented, "Our Board of Directors
decided to reduce the quarterly cash dividend to stockholders from $0.06 per
share to $0.02 per share to further strengthen our capital and liquidity
position. Our Board will continue to monitor capital growth generated by
earnings in order to determine a reasonable dividend level in the current
economic environment. Our goal is to continue to reward stockholder loyalty
while increasing capital for growth and maintaining the Bank's 'well
capitalized' status, the highest level of regulatory capital."
Community Central Bank Corporation is the holding company for Community
Central Bank in Mount Clemens, Michigan. The Bank opened for business in
October 1996 and serves businesses and consumers across Macomb, Oakland, Wayne
and St. Clair counties with a full range of lending, deposit, trust, wealth
management, and Internet banking services. The Bank operates three full
service facilities, in Mount Clemens, Rochester Hills, and Grosse Pointe
Farms, Michigan. Community Central Mortgage Company, LLC, a subsidiary of the
Corporation and Bank, operates locations servicing the Detroit metropolitan
area and Northwest Indiana. River Place Trust and Community Central Wealth
Management are divisions of Community Central Bank. Community Central
Insurance Agency, LLC is a wholly owned subsidiary of Community Central Bank.
Forward-Looking Statements. This news release contains comments or
information that constitute forward-looking statements (within the meaning of
the Private Securities Litigation Reform Act of 1995), which involve
significant risks and uncertainties. Actual results may differ materially from
the results discussed in the forward-looking statements. Factors that might
cause such a difference include: changes in interest rates and interest-rate
relationships; demand for products and services; the degree of competition by
traditional and non-traditional competitors; changes in banking regulations;
changes in tax laws; changes in prices, levies, and assessments; our ability
to successfully integrate acquisitions into our existing operations, and the
availability of new acquisitions, joint ventures and alliance opportunities;
the impact of technological advances; governmental and regulatory policy
changes; the outcomes of contingencies; trends in customer behavior as well as
their ability to repay loans; changes in the national and local economy; and
other factors included in Community Central Bank Corporation's filings with
the Securities and Exchange Commission, available free via EDGAR. The
Corporation assumes no responsibility to update forward-looking statements.
SOURCE Community Central Bank Corporation
