Wawel Savings Bank to Pay Cash Dividend

WALLINGTON, N.J., May 27 /PRNewswire-FirstCall/ -- Wawel Savings Bank (OTC Bulletin Board: WAWL) today announced that the Bank will pay a cash dividend.  The special dividend of $.10 per share is the tenth consecutive dividend paid by the Bank. The cash dividend will be payable to stockholders of record as of June 10, 2010 and will be paid on June 18, 2010.

Robert Ranzinger, Chairman and Chief Executive Officer of the Bank, said, "The Board of Directors of the Bank believes that the payment of this cash dividend is appropriate and reflects our efforts to enhance our stockholders' investment in the Bank."  He also noted that, "Wawel Financial Services, MHC intends to waive its right to receive this dividend."

The Bank has 2,144,701 shares of common stock issued and outstanding of which, 1,304,153 shares are owned by Wawel Financial Services, MHC.  Wawel Financial Services, MHC does not engage in any business activity other than holding the Bank's common stock.

Wawel Savings Bank is a community oriented banking institution that operates from its full service main office in Wallington, New Jersey and branch office in Garfield, New Jersey.  The Bank's deposits are insured by the Federal Deposit Insurance Corporation.

SOURCE Wawel Savings Bank