[STK] OTC-PINK:FFNM OTC-QX:FFNM
[IN] FIN
[SU] DIV
— WITH PHOTO — TO BUSINESS EDITORS:
First Federal of Northern Michigan Bancorp, Inc. Announces Quarterly
Cash Dividend
ALPENA, Mich., Jan. 24, 2017 /PRNewswire/ — First Federal of Northern
Michigan Bancorp, Inc. (OTCQX: FFNM) today announced that at its
January 24, 2017 meeting the Board of Directors approved the
declaration of a quarterly cash dividend in the amount of $0.04 per
common share. The dividend will be paid on or about February 24, 2017,
to stockholders of record as of the close of business on February 3,
2017.
“We are pleased to announce the continuance of our payment of a
quarterly dividend to our shareholders. This dividend declaration
represents our fourteenth consecutive payment of a cash dividend to
our shareholders,” said Michael W. Mahler, Chief Executive Officer of
the Company. “We believe that a sustained cash dividend payment
embodies our commitment to our shareholders with a continued emphasis
on enhancing value for our investors.”
About First Federal of Northern Michigan Bancorp, Inc.
First Federal of Northern Michigan Bancorp, Inc. is the holding
company for First Federal of Northern Michigan (the “Bank”). The Bank
is a full-service, community-oriented savings bank that provides
financial services to individuals, families and businesses from eight
full-service facilities located in Alpena, Cheboygan, Emmet, Iosco,
Otsego, Montmorency and Oscoda Counties, Michigan. To learn more about
the Bank, visit www.first-federal.com or call (800) 498-0013.
Forward-looking statements
This news release may contain certain forward-looking statements, such
as statements of the Company’s or the Bank’s plans, objectives,
expectations, estimates and intentions. Forward-looking statements may
be identified by the use of words such as “expects,” “subject,”
“believe,” “will,” “intends,” “will be” or “would.” These statements
are subject to change based on various important factors (some of
which are beyond the Company’s or the Bank’s control) and actual
results may differ materially. Accordingly, readers should not place
undue reliance on any forward-looking statements (which reflect
management’s analysis of factors only as of the date of which they are
given). These factors include general economic conditions, trends in
interest rates, the ability of our borrowers to repay their loans, the
ability of the Company or the Bank to effectively manage its growth,
and results of regulatory examinations, among other factors. The
foregoing list of important factors is not exclusive.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/first-federal-of-northern-michigan-bancorp-inc-announces-quarterly-cash-dividend-300395629.html
SOURCE First Federal of Northern Michigan Bancorp, Inc.
-0- 01/24/2017
/CONTACT: Michael W. Mahler, Telephone: (989) 354-7319
/Photo: http://mma.prnewswire.com/media/330264/ff_logo_pms555_full_name_Logo.pdf
/Web Site: http://www.first-federal.com
(OTC-PINK:FFNM /
OTC-QX:FFNM) /
CO: First Federal of Northern Michigan Bancorp, Inc.
ST: Michigan
IN: FIN
SU: DIV
PRN
— DE94614 —
0000 01/24/2017 15:45:00 EDT http://www.prnewswire.com
The Associated Press
