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First Manitowoc Bancorp declares special dividend

12:22 AM, Dec. 13, 2012  |  Comments
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First Manitowoc Bancorp, parent company of Bank First, approved a special cash dividend of 44 cents per common share.

The dividend is payable Dec. 27 to shareholders of record today. The special dividend represents a prepayment of the company's regular quarterly dividends for 2013 and is being made ahead of possible tax increases.

"We believe this special dividend adds value to shareholders prior to a potential tax rate increase in 2013," said Mike Molepske, president and CEO of Bank First. "Our strong capital position provides the flexibility to make this distribution now and enables us to continue executing our strategic plan."

First Manitowoc has assets of $928 million and operates 12 offices in Manitowoc, Brown, Sheboygan and Winnebago counties.

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