On April 26, 2001 the Board of Directors of Monroe Title Insurance Corporation (Monroe) declared a quarterly dividend of $.05 per share, payable on May 17, 2001 to shareholders of record May 10, 2001.
Monroe also announced today its first quarter, 2001 results. Revenues for the first quarter 2001, including investment earnings, totaled $4.1 million and net income totaled $169,276.
Commenting on the Company's performance, Thomas P. Moonan, Monroe's President and Chief Executive Officer, noted "I am very pleased and encouraged with the results of the first quarter of 2001 and am optimistic about our prospects for the balance of the year. During the quarter we began to see improvement in orders as refinancing activity increased in response to declining interest rates. This trend is expected to continue into subsequent quarters. While we anticipate improved revenues we also remain committed to maintaining lean costs with particular emphasis on efficiencies."
Monroe Title Insurance Corporation provides a full range of title insurance and abstract services throughout western, central and upstate New York. Headquartered in Rochester, New York, the Company has 23 full service and subsidiary offices and a network of agents and examining counsel throughout the State.