Team Financial (TFIN) Hires Sandler O'Neill to Review Strategic Alternatives; Suspends Dividend

June 24, 2008 5:07 PM EDT

Team Financial, Inc. (Nasdaq: TFIN) has selected Sandler O'Neill + Partners, L.P. to serve as financial advisor to assist the Company and its Board with respect to its analysis of strategic alternatives, including capital planning efforts to better position the Company for future opportunities.

The Company also announced that it has suspended paying cash dividends on its common stock in order to enhance its capital position. The move is in response to the current operating environment as the Company seeks higher levels of capital during the current economic cycle.

"We recognize that dividend payments are important to our shareholders. However, we are taking this action to strengthen our balance sheet and capital position. The protection of long-term shareholder value is essential in light of our current operating environment," said Robert J. Weatherbie, Chairman and CEO of Team Financial, Inc.

Management estimates that the dividend suspension will result in the Company retaining approximately $1.1 million of capital per year. While the Company expects to reassess the feasibility of dividend payments quarterly and hopes to reinstate dividends when capital levels and the operating environment improve, the timing of any future dividends is not known. [SM]

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