CIB Marine Bancshares, Inc. Sets Dates for Common and Preferred Shareholder Meetings

Rhea-AI Summary

CIB Marine Bancshares (OTCQB: CIBH) announced a detailed plan for the repurchase of all outstanding preferred stock. The company has issued a letter to shareholders outlining the plan and providing additional meeting materials, available on its website. This action is part of CIB Marine's strategy to enhance shareholder value. The forward-looking statements included in the release highlight risks related to operations, market conditions, and regulatory factors that may impact the company's financial performance.

Positive

• CIB Marine plans to repurchase all outstanding shares of preferred stock, potentially enhancing shareholder value.

Negative

• Forward-looking statements carry significant risks and uncertainties, including operational, legal, and market risks.

Provides Additional Details of Preferred Stock Repurchase Plan

BROOKFIELD, Wis., July 30, 2021 (GLOBE NEWSWIRE) -- CIB Marine Bancshares, Inc. (the “Company” or “CIB Marine”) (OTCQB: CIBH), has issued a letter to its shareholders providing further details related to its plan to repurchase all outstanding shares of its preferred stock and upcoming shareholder meetings. The shareholder letter is available at: https://www.cibmarine.com/financial_info/documents/ShareholderLetter_072921.pdf.

Additional Annual Meeting materials can be found on CIB Marine’s website at: https://www.cibmarine.com/2021AnnualMeeting.asp.

FORWARD-LOOKING STATEMENTS
CIB Marine has made statements in this release that may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. CIB Marine intends these forward-looking statements to be subject to the safe harbor created thereby and is including this statement to avail itself of the safe harbor. Forward-looking statements are identified generally by statements containing words and phrases such as “may,” “project,” “are confident,” “should be,” “intend,” “predict,” “believe,” “plan,” “expect,” “estimate,” “anticipate” and similar expressions. These forward-looking statements reflect CIB Marine’s current views with respect to future events and financial performance that are subject to many uncertainties and factors relating to CIB Marine’s operations and the business environment, which could change at any time.

There are inherent difficulties in predicting factors that may affect the accuracy of forward-looking statements.

Stockholders should note that many factors, some of which are discussed elsewhere in this Earnings Release and in the documents that are incorporated by reference, could affect the future financial results of CIB Marine and could cause those results to differ materially from those expressed in forward-looking statements contained or incorporated by reference in this document. These factors, many of which are beyond CIB Marine’s control, include but are not limited to:

• operating, legal, execution, credit, market, security (including cyber), and regulatory risks;
• economic, political, and competitive forces affecting CIB Marine’s banking business;
• the impact on net interest income and securities values from changes in monetary policy and general economic and political conditions; and
• the risk that CIB Marine’s analyses of these risks and forces could be incorrect and/or that the strategies developed to address them could be unsuccessful.

These factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements. Forward-looking statements speak only as of the date they are made. CIB Marine undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Forward-looking statements are subject to significant risks and uncertainties and CIB Marine’s actual results may differ materially from the results discussed in forward-looking statements.

FOR INFORMATION CONTACT:
J. Brian Chaffin, President & CEO
(217) 355-0900
brian.chaffin@cibmbank.com

FAQ

What is CIB Marine Bancshares planning regarding preferred stock?

CIB Marine Bancshares plans to repurchase all outstanding shares of its preferred stock.

When was the CIB Marine preferred stock repurchase plan announced?

The plan was announced on July 30, 2021.

What is the stock symbol for CIB Marine Bancshares?

The stock symbol for CIB Marine Bancshares is CIBH.

Where can I find more details on CIB Marine's shareholder letter?

Further details can be found in the shareholder letter available on CIB Marine's website.

What risks are associated with CIB Marine's forward-looking statements?

Risks include operational, credit, market, and regulatory uncertainties that could impact financial performance.