Porter Bancorp, Inc. Declares 5% Stock Dividend
November 19 2010 - 4:30PM
Business Wire
Porter Bancorp, Inc. (NASDAQ: PBIB), parent company of
PBI Bank, announced today that its Board of Directors declared
a 5% stock dividend. The dividend will be payable on December 14,
2010, to shareholders of record as of December 5, 2010. Fractional
shares arising from the stock dividend will be rounded up to the
nearest whole share and will be credited to shareholders.
“We are pleased to reward shareholders with the dividend shares
and believe the additional shares will contribute to increased
trading activity and liquidity in our stock,” stated Maria L.
Bouvette, President and CEO of Porter Bancorp, Inc. “As a result of
the stock dividend, our outstanding common shares will increase by
approximately 564,081 to 11,845,706.”
About Porter Bancorp, Inc.
Porter Bancorp, Inc., a bank holding company headquartered in
Louisville, Kentucky, had $1.7 billion in assets as of
September 30, 2010. Through Porter’s subsidiary PBI Bank, it
operates 18 full service banking offices in Kentucky. Porter
Bancorp’s common stock is traded on the Nasdaq Global Market under
the symbol “PBIB.”
Forward-Looking Statements
Statements in this press release relating to Porter Bancorp’s
plans, objectives, expectations or future performance are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements are based on management’s current expectations. Porter
Bancorp’s actual results in future periods may differ materially
from those currently expected due to various risks and
uncertainties, including those discussed under “Risk Factors” in
the Company’s Form 10-K and subsequent periodic reports filed with
the Securities and Exchange Commission. The forward-looking
statements in this press release are made as of the date of the
release and Porter Bancorp does not assume any responsibility to
update these statements.
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