05/30/2012 | Press release

2012 Second Quarter Dividend Declaration

distributed by noodls on 05/30/2012 18:54

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FOR IMMEDIATE RELEASE

2012 Second Quarter Dividend Declaration

Pittsburgh, PA May 30, 2012: Allegheny Valley Bancorp, Inc., (OTC BB: AVLY) (the "Company") the parent company of Allegheny Valley Bank of Pittsburgh (the "Bank") announced today that its board of directors has declared the 2012 2nd quarter dividend in the amount of 46 cents ($ .46) per share in the form of a cash dividend and the issuance of a stock dividend of .00263 shares of common stock for each outstanding share of common stock of the Company. The issuance of the .00263 stock dividend equates to 11cents ($ .11) per share based on a stock price of
$41.81 which is the average weighted closing price of AVLY Stock in the trailing 20 market (business) days on which
there was an active trade. The cash and stock dividend is for shareholders as of record date June 8, 2012 and is payable on June 22, 2012.
Andrew W. Hasley, President and Chief Executive Officer of Allegheny Valley Bancorp, Inc., said, "Our Company has paid a dividend for many decades. Our announcement today continues our focus on delivering shareholder value. At the same time, given the challenging and uncertain economic climate, paying a stock dividend in lieu of cash helps to retain and enhance capital, which the Board considers prudent at this time. One advantage of a stock dividend to our shareholders is that it represents more shares of stock for which the holder is entitled to a dividend."
Shareholders will not be required to take any action in order to receive the stock dividend. After the payment date, shareholders' book entry accounts will be credited with the additional shares representing the stock dividend. The shareholder will receive "Cash-In-Lieu Of" for all Fractional Shares except those shareholders that participate in the Dividend Reinvestment Program. Where shares are held in a brokerage account in the name of a broker, the additional shares will be distributed to the broker on the shareholder's behalf. The stock dividend will be administered by Registrar and Transfer Company, the Company's transfer agent.

Allegheny Valley Bank - Mission Statement:

We are problem solvers.

We ensure a great customer experience. We deliver the product that is…right for you.

Allegheny Valley Bancorp, Inc is a Pennsylvania Corporation and bank holding company headquartered in Lawrenceville that provides a full range of retail and commercial financial products and services to customers in the Pittsburgh area through its wholly owned subsidiary bank Allegheny Valley Bank. Allegheny Valley Bank owns Allegheny Valley Financial Services, LLC, doing business as AVB Advisors, that provides a full array of wealth management, brokerage and insurance products and services. Allegheny Valley Bancorp is traded on the OTC Bulletin Board under the symbol AVLY. The most recent trade was $40.05 per share.
For more information about Allegheny Valley Bank please refer to its web address, www.ilovethatbank.com.

CONTACT:

Andrew W. Hasley, CPA, MBA President and Chief Executive Officer (412) 781-0320
Jason W. Ross, CPA
Executive Vice President, Chief Financial Officer and Treasurer
(412) 781-4810

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