Summit Bank Issues Stock Dividend
SUMMIT BANK GROUP INC (SBKO)
NASDAQ:AMEX Investor Relations:
sbko.bank/investor-relations
Company Research
Source: Business Wire
EUGENE, Ore.--(BUSINESS WIRE)-- Summit Bank (OTCBB:SBKO) announced that its Board of Directors approved a 5 for 4 stock split of the company’s shares of common stock payable in the form of a stock dividend. The ex-dividend date is June 4th with shareholders of record as of June 11th receiving an additional share for every four shares they own. “Given Summit’s strong financial results in the first quarter of 2018 and the increase in our stock price since the last stock split, the Board reviewed a number of options to thank our shareholders for their support,” said Board Chair Paul Weinhold. “We believe the time is right for a one-time split to increase the stock’s marketability and liquidity by making it attractive to a larger number of potential investors.” Summit Bank reported net income for the first quarter ending March 31, 2018 of $1.15 million or 28 cents per fully diluted share, making the
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