EAST TEXAS FINANCIAL SERVICES, INC.
1200 South Beckham o P. O. Box 6910 o Tyler, TX 75711-6910 o 903-593-1767
o Fax 903-593-1094
NEWS RELEASE
For verification, contact: Gerald W. Free, Vice Chairman/President/CEO
Derrell W. Chapman, Vice President/COO/CFO
Telephone: (903) 593-1767
Fax: (903) 593-1094
For immediate release, October 21, 1998
- --------------------------------------------------------------------------------
EAST TEXAS FINANCIAL SERVICES, INC.
DECLARES CASH DIVIDEND
Tyler, Texas, October 21, 1998, --- East Texas Financial Services, Inc. (NASDAQ:
ETFS), the holding Company for First Federal Savings and Loan Association of
Tyler, Texas, today has announced that the Company has declared a cash dividend
of $0.05 per share for the quarter ended September 30, 1998. The dividend will
be payable on November 25, 1998, to stockholders of record as of November 11,
1998.
As of September 30, 1998, the Company had outstanding 1,464,056 shares of stock.
During the quarter ended September 30, 1998, shares of the Company's stock
traded between $13.00 per share and $15.50 per share.
First Federal Savings and Loan Association serves primarily Smith County, Texas,
through its two full service retail banking offices located in Tyler and
Whitehouse and two loan production offices located in Tyler and Lindale.
First Federal Savings and Loan Association anticipates opening a new branch in
the early part of 1999. President and CEO, Gerald W. Free, stated, "in an effort
to offer additional products and services to our existing customers and to
attract new customers, First Federal will be opening an additional full service
commercial banking office located at 7205 S. Broadway."
The Company's stock is traded under the symbol "ETFS" on the NASDAQ National
Market System and is listed in most daily newspapers as "EastTxFnl".
- END -
Serving the Financial Needs of East Texas