CHATTANOOGA, Tenn., Oct. 31, 2006 (PRIMEZONE) -- First Security Group, Inc. (Nasdaq:FSGI), a community bank holding company serving middle and eastern Tennessee and northern Georgia, announced that its board of directors at its regular meeting declared a quarterly cash dividend of $0.05 per share on the Company's common stock. The dividend represents an increase of 100 percent over the $0.025 per share paid quarterly since the Company began to pay a cash dividend in the fourth quarter of 2005. The dividend will be payable on December 18, 2006 to shareholders of record on December 1, 2006.
Rodger B. Holley, First Security's chairman, president and chief executive officer, said, "This quarter, we are doubling our cash dividend to $0.05 per share. We reported a strong third quarter, reflecting a balance of growth and profitability, and we are confident that our markets will continue to reward our initiatives. Our performance demonstrates our ability to execute our strategies under a variety of conditions, and we are pleased to share our success with shareholders."
About First Security Group, Inc:
First Security Group, Inc. is a bank holding company headquartered in Chattanooga, TN with $1.1 billion in assets. Founded in 1999, First Security's community bank subsidiary, FSGBank, N.A. has 37 full-service banking offices along the interstate corridors of middle and eastern Tennessee and northern Georgia. In Dalton, GA, FSGBank operates six full-service banking offices under the name of Dalton Whitfield Bank and two offices under the name Primer Banco Seguro (PBS); PBS serves the region's rapidly growing Latino population. FSGBank also operates under the name of Jackson Bank & Trust along the I-40 corridor. FSGBank provides retail and commercial banking services, trust and investment management, mortgage banking, asset-based lending, financial planning, Internet banking (www.FSGBank.com) and equipment leasing through its wholly-owned subsidiaries, Kenesaw Leasing, Inc. and J & S Leasing, Inc.
The First Security Group, Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=1833
Forward-Looking Statements
This news release contains comments or information that constitute forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) that are based on current expectations that involve a number of risks and uncertainties. Actual results may differ materially from the results expressed in forward-looking statements. Factors that might cause such a difference include changes in interest rates and interest rate relationships; demand for products and services; the degree of competition by traditional and non-traditional competitors; changes in banking regulation; changes in tax laws; changes in prices, levies, and assessments; the impact of technological advances; governmental and regulatory policy changes; the outcomes of contingencies; trends in customer behavior as well as their ability to repay loans; changes in the national and local economy; and other factors, including risk factors, referred to from time to time in filings made by First Security with the Securities and Exchange Commission. First Security undertakes no obligation to update or clarify forward-looking statements, whether as a result of new information, future events or otherwise.