Item 8.01
- Other Events
Content
of Stock Dividend Announcement
Savannah
Bancorp Declares 5-for-4 Stock Split
Tuesday
November 21, 4:15 pm ET
SAVANNAH,
Ga.--(PRIMEZONE)--Nov. 21, 2006--Today, the Board of Directors of The
Savannah Bancorp, Inc. (NASDAQ: SAVB) declared 5-for-4 stock split in the
form
of a
25-percent stock dividend. The stock dividend will be distributed on
December
15, 2006 to shareholders of record as of December 1, 2006. Fractional
share
amounts will be paid in cash based on the closing market price on the record
date.
The
Savannah Bancorp, Inc. is listed on the NASDAQ Global Market under the stock
symbol SAVB and CUSIP # 804748101. As of November 21, 2006, there were
4.62
million shares outstanding and the closing market price was $34.00 per share.
approximately 1,154,000 new shares will be distributed to existing shareholders.
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SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
The
Savannah Bancorp, Inc. (Registrant)
By:
/s/ Robert B. Briscoe
Date: November
21, 2006
Robert
B.
Briscoe
Chief
Financial Officer
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