Georgia Bank Agrees Not To Pay Dividends Without Fed OK
05 November 2009 - 3:30AM
Dow Jones News
A Georgia bank has agreed not to pay dividends without Federal
Reserve approval.
The Fed on Wednesday announced an agreement with Georgia
Bancshares Inc. of Peachtree City, Ga. The company owns The Bank of
Georgia in Peachtree City.
In the agreement, Georgia Bancshares said it wouldn't declare or
pay dividends without approval.
It also said it wouldn't incur debt without Fed permission, or
buy or redeem shares of its stocks without an okay.
-By Jeff Bater, Dow Jones Newswires; 202 862 9249; jeff.bater@dowjones.com
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