EX-99 3 exhibit99.txt EXHIBIT "99" EAST TEXAS FINANCIAL SERVICES, INC. -------------------------------------------------------------------------------- 1200 South Beckham o P. O. Box 6910 o Tyler, TX 75711-6910 o 903-593-1767 o Fax 903-593-1094 NEWS RELEASE For verification, contact: Gerald W. Free, Vice Chairman/President/CEO Derrell W. Chapman, Executive Vice President/ COO/CFO Telephone: (903) 593-1767 Fax: (903) 593-1094 For immediate release: October 18, 2002 -------------------------------------------------------------------------------- EAST TEXAS FINANCIAL SERVICES, INC. DECLARES CASH DIVIDEND AND ANNOUNCES ANNUAL STOCKHOLDERS MEETING Tyler, Texas, October 18, 2002, - - - East Texas Financial Services, Inc., (OTC Bulletin Board: ETFS.OB), the holding Company for First Federal Savings and Loan Association of Tyler, Texas, today reported that the Company would continue its quarterly cash dividend of $0.05 per share to be paid on November 20, 2002 to stockholders of record as of November 6, 2002. The annualized dividend yield is approximately 1.82% based on the most recent market price of $11.00. In other matters, the Company announced the date for its next annual meeting of Stockholders was set for 2:00 p.m. January 29, 2003 at the Company Offices located at 1200 South Beckham Avenue in Tyler and that the record date for voting on matters at the meeting was set for December 11, 2002. East Texas Financial Services, Inc., is the holding company for First Federal Savings and Loan Association of Tyler, Texas, which presently operates three full service offices and one loan agency in the Tyler area and one full service office in Gilmer, Texas. The Company's stock is traded under the symbol "ETFS" on the OTC Electronic Bulletin Board.