1st Colonial Bancorp Announces 5% Stock Dividend
December 17 2008 - 12:18PM
Business Wire
The Board of Directors of 1st Colonial Bancorp, Inc. (OTCBB:FCOB)
today declared a five percent stock dividend to the company's
shareholders. The dividend will be distributed on all issued and
outstanding shares held of record as of April 1, 2009 and will be
payable on April 15, 2009. Accordingly, each shareholder as of the
record date will receive one share of common stock for every
20�shares of common stock that they own on that date, plus an
additional share in lieu of any fractional share payable to the
shareholder. 1st Colonial's President and Chief Executive Officer,
Gerard�M. Banmiller, stated: �We are once again pleased to announce
another stock dividend to our shareholders in appreciation for
their support. The capital that our shareholders have provided
since our formation in June 2000 has allowed us to grow to over
$225 million in assets as of September 30, 2008. Through the first
three quarters of 2008, our earnings increased by 9.6% over the
same period in 2007. We are anticipating the completion of our
tenth consecutive year of growth in 2008.� Banmiller continued, �We
live in southern New Jersey and we work in southern New Jersey.
That connection creates great pride in our community and our Bank,
and provides extra incentive to render superior customer service to
you. This connection is something that our big bank competitors do
not have or understand.� 1st Colonial Bancorp, Inc. is the holding
company for 1st Colonial National Bank, a commercial bank
headquartered in Collingswood, New Jersey. This Release contains
forward-looking statements that are not historical facts and
include statements about management�s strategies and expectations
about our business. There are risks and uncertainties that may
cause our actual results and performance to be materially different
from results indicated by these forward-looking statements. Factors
that might cause a difference include deteriorating economic
conditions; changes in interest rates, deposit flows, loan demand,
and real estate values; competition; unexpected loan losses;
changes in accounting principles, policies or guidelines; changes
in laws or regulation; new technology and other factors affecting
our operations, pricing, products and services.
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