Feb 14 - Tower Financial Corporation (Nasdaq:TOFC) has announced that at its meeting on Feb. 13, 2013, its board of directors declared a first quarter cash dividend of 7 cents 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 Feb. 27, 2013. The 7 cents per share dividend represents an increase of 27.3 percent from the fourth quarter 2012 dividend of $0.055 per share.
About the Company
Headquartered in Fort Wayne, Ind., Tower Financial Corporation is a financial services holding company with one subsidiary, Tower Bank & Trust Co., a community bank headquartered in Fort Wayne. Tower Bank provides a wide variety of financial services to businesses and consumers through its six full-service financial centers in Fort Wayne, and one in Warsaw, Ind. Tower Bank has a wholly owned subsidiary, Tower Trust Co., which is a state-chartered wealth services firm doing business as Tower Private Advisors. Tower Bank also markets under the HSA Authority brand, which provides Health Savings Accounts to clients in 50 states. Tower Financial Corporation's common stock is listed on the NASDAQ Global Market under the symbol "TOFC." For further information, visit Tower's website at www.towerbank.net.