Contact Information: For Additional Information, Contact: Scott Yelvington Executive Vice President (847) 244-6000 Ext. 201 Websites: www.nsfc.com www.nsfc.net
Northern States Financial Reports -- Revised First Quarter 2009 Book Value per Share Number
| Source: Northern States Financial Corporation
WAUKEGAN, IL--(Marketwire - May 4, 2009) - Northern States Financial Corporation (NASDAQ : NSFC ), holding company for NorStates Bank, an FDIC insured financial
institution, reports today that the book value per share of $18.79 at March
31, 2009, included in a schedule attached to its first quarter 2009
earnings press release dated April 30, 2009 should have been $14.57 per
common share, the actual book value per common share at March 31, 2009.
The dollar amount of the book value as originally reported included the
effect of the receipt by the Company of approximately $17.2 million in
proceeds from the sale by the Company of preferred stock to the U.S.
Treasury under the TARP Capital Purchase Program. The actual book value
per common share of $14.57 correctly excludes the effect of the issuance of
this additional capital.