SOLVAY — The board of directors for Solvay Bank Corp., holding company for Solvay Bank, has declared a second quarter dividend of 27 cents a share, up nearly 4 percent from a year ago.
It will be payable on July 26 to shareholders of record as of June 29. The dividend is a 3.8 percent increase from the one paid in the second quarter of 2011.
Solvay Bank has eight branch offices in Solvay, Fairmount, Camillus, Liverpool, North Syracuse, Cicero, downtown Syracuse, and Westvale. It ranks seventh in deposit market share in the Syracuse metro area with nearly $543 million in deposits, or 5.16 percent of the market’s total deposits, according to June 30, 2011, FDIC statistics, the latest available. Solvay Bank also owns an insurance agency and has more than $646 million in total assets.
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The bank is in the midst of expanding its headquarters at 1537 Milton Ave. Workers are constructing a 17,000-square-foot addition to the current 26,000-square-foot structure.
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