COEUR D'ALENE, Idaho, Oct. 26, 2005 (PRIMEZONE) -- Jack W. Gustavel, Chairman and Chief Executive Officer of Idaho Independent Bank (IIB) (OTCBB:IIBK), today announced that on October 21, 2005, IIB's Board of Directors declared a 7% stock dividend payable to shareholders of its common stock of record on November 7, 2005. The stock dividend will be paid on December 2, 2005, and certificates will be mailed to shareholders on that date. Cash, based on the market price of IIB's common stock on November 1, 2005, will be paid in lieu of issuance of fractional shares. Mr. Gustavel stated that the stock dividend is being paid in recognition of IIB's financial performance and growth over the past year.
About IIB
IIB, The Idaho Bank(r), was established in 1993 as an Idaho state-chartered, commercial bank and currently operates branches in Boise (2), Caldwell, Meridian, Nampa, Star, Coeur d'Alene, Hayden Lake, Mountain Home, and Ketchum/Sun Valley. IIB has approximately 180 employees throughout the state of Idaho. IIB's Common Stock is traded on the OTC Bulletin Board under the symbol IIBK. To learn more about IIB, visit us online at www.theidahobank.com.
Statements contained herein concerning future performance, developments or events, expectations for earnings, growth and market forecasts, and any other guidance for future periods constitute forward-looking statements within the meaning of the Private Securities Reform Act of 1995, and as such, are subject to a number of risks and uncertainties that might cause actual results to differ materially from expectations or our stated objectives. Factors that could cause actual results to differ materially include but are not limited to: changes in regional or general economic conditions; changes in interest rates, deposit flows, demand for loans, real estate values, competition, or loan delinquency rates; changes in accounting principles, practices, policies, or guidelines; changes in legislation or regulations; changes in the regulatory environment; changes in monetary policy of the Federal Reserve Bank; changes in fiscal policy of the Federal government; changes in other economic, competitive, governmental, regulatory and technological factors affecting operations, pricing, products, and services; material unforeseen changes in the liquidity, results of operations, or financial condition of the Bank's customers; and other risks detailed from time to time in the Bank's filings with the Federal Deposit Insurance Corporation. Accordingly, these factors should be considered in evaluating forward-looking statements, and undue reliance should not be placed on such statements. The Bank undertakes no responsibility to update or revise any forward-looking statements.
The Idaho Independent Bank company logo can be found at: http://www.primezone.com/newsroom/prs/?pkgid=1275