American Commercial Bank Reports Dividend

The board of directors of Americorp, the holding company for American Commercial Bank, declared a 15-cents-per-share dividend for shareholders of record on Dec. 28, payable Jan. 10.

This represents a 15.4% increase over the previous declared dividend. Based on the number of shares, the dollar amount will be about $314,000.

Americorp previously reported third-quarter earnings of $964,000, or 39 cents per diluted share. As of the end of the third quarter, total earnings were nearly $2.65 million, or $1.10 per diluted share, which represented a 34.3% increase over the $1.97 million, or 90 cents per diluted share reported for the same period in 1999.

American Commercial Bank operates branches in Ventura, Oxnard and Camarillo.