Tower Financial Corporation

Tower Financial Corporation Announces Dividend of $0.07 Per Share

FORT WAYNE, Ind., May 8, 2013 (GLOBE NEWSWIRE) -- Tower Financial Corporation (Nasdaq:TOFC) announced last night at its annual shareholders meeting that on May 7, 2013, its board of directors declared a second quarter cash dividend of $0.07 per share on the Corporation's common stock. The dividend is payable on June 4, 2013 to shareholders of record at the close of business on May 21, 2013.

Tower Financial Corporation

Tower Financial Corporation Reports First Quarter Net Income of $2.0 Million

FORT WAYNE, Ind., April 25, 2013 (GLOBE NEWSWIRE) -- Tower Financial Corporation (Nasdaq:TOFC) reported net income of $2.0 million or $0.43 per diluted share for the first quarter of 2013, compared with net income of $1.1 million, or $0.22 per diluted share, reported for the first quarter of 2012.

Tower Financial Corporation

Tower Financial Corporation Increases Quarterly Dividend by 27 Percent, to $0.07 Per Share

FORT WAYNE, Ind., Feb. 14, 2013 (GLOBE NEWSWIRE) -- Tower Financial Corporation (Nasdaq:TOFC) announced today that at its meeting held on February 13, 2013, its board of directors declared a first quarter cash dividend of $0.07 per share on the Corporation's common stock. The dividend is payable on March 13, 2013 to shareholders of record at the close of business on February 27, 2013. The $0.07 per share dividend represents an increase of 27.3 percent from the fourth quarter 2012 dividend of $0.055 per share.

Tower Financial Corporation

Tower Financial Corporation Reports Annual Net Income of $5.7 Million

FORT WAYNE, Ind., Jan. 24, 2013 (GLOBE NEWSWIRE) -- Tower Financial Corporation (Nasdaq:TOFC) reported net income of $1.7 million or $0.36 per diluted share for the fourth quarter of 2012, compared with net income of $3.4 million, or $0.71 per diluted share, reported for the fourth quarter of 2011. Year to date earnings for 2012 were $5.7 million, or $1.18 per diluted share, compared to $6.6 million, or $1.36 per diluted share for 2011.

Tower Financial Corporation

Tower Financial Corporation Announces Stock Repurchase Program

FORT WAYNE, Ind., Dec. 10, 2012 (GLOBE NEWSWIRE) -- Tower Financial Corporation (Nasdaq:TOFC) announced today that its board of directors has authorized the repurchase of up to two-hundred fifty thousand (250,000) shares of the Company's common stock, either through open market purchases in accordance with the requirements of Rule 10b‑18 under the Securities Exchange Act of 1934, as amended, or in privately negotiated block purchases if and to the extent the Company becomes aware that individual blocks of shares are available for repurchase.

Tower Financial Corporation

Tower Financial Corporation Announces Special Dividend of $0.50 Per Share

FORT WAYNE, Ind., Dec. 7, 2012 (GLOBE NEWSWIRE) -- The board of directors of Tower Financial Corporation (Nasdaq:TOFC) at its meeting held on December 6, 2012 declared a special cash dividend of $0.50 per share of common stock. The dividend is payable on December 27, 2012 to shareholders of record at the close of business on December 20, 2012.

Tower Financial Corporation

Tower Financial Corporation Reports Third Quarter Net Income of $1.6 Million

FORT WAYNE, Ind., Oct. 25, 2012 (GLOBE NEWSWIRE) -- Tower Financial Corporation (Nasdaq:TOFC) reported net income of $1.6 million or $0.32 per diluted share for the third quarter of 2012, compared with net income of $1.3 million, or $0.27 per diluted share, reported for the third quarter of 2011. Year to date earnings through the first nine months of 2012 were $4.0 million, or $0.83 per diluted share, compared to $3.2 million, or $0.66 per diluted share for the first nine months of 2011.

Tower Financial Corporation

Tower Financial Corporation Declares Fourth Quarter Cash Dividend of $0.055 Per Share

FORT WAYNE, Ind., Oct. 22, 2012 (GLOBE NEWSWIRE) -- Tower Financial Corporation (Nasdaq:TOFC) announced today that at its meeting held on October 18, 2012, its board of directors declared a fourth quarter cash dividend of $0.055 per share on the Corporation's common stock. The dividend is payable on November 15, 2012 to shareholders of record at the close of business on November 1, 2012.

Tower Financial Corporation

Tower Bank's HSA Authority Ranked in the Top 20 HSA Providers in the Nation

FORT WAYNE, Ind., Aug. 6, 2012 (GLOBE NEWSWIRE) -- The HSA Authority at Tower Bank that provides Health Savings Accounts (HSAs) to clients in all 50 states has been ranked in the top 20 HSA providers in the nation by Devenir. As part of their 2012 HSA Research Report, Devenir, a leading expert on HSAs, has identified The HSA Authority as an industry leader in a rapidly growing market.

Tower Financial Corporation

Tower Financial Corporation Reports Second Quarter Net Income of $1.4 Million

FORT WAYNE, Ind., July 26, 2012 (GLOBE NEWSWIRE) -- Tower Financial Corporation (Nasdaq:TOFC) reported net income of $1.4 million or $0.28 per diluted share for the second quarter of 2012, compared with net income of $1.1 million, or $0.22 per diluted share, reported for the first quarter of 2012 and the second quarter of 2011, respectively. Year to date earnings through the first six months of 2012 were $2.5 million, or $0.51 per diluted share, compared to $1.9 million, or $0.39 per diluted share for the first six months of 2011.