First Commerce Bank Announces Special Cash Dividend and Commencement of Regular Quarterly Cash Dividend

Rhea-AI Summary

First Commerce Bank (OTC PINK:CMRB) has declared a special dividend of $0.35 per share, payable on September 20, 2022, to shareholders of record as of September 6, 2022. Additionally, the bank will initiate a quarterly cash dividend starting in Q4 2022, with the first dividend set at $0.04 per share. CEO Donald Mindiak emphasized the board's commitment to enhancing shareholder value through these dividend initiatives.

Positive

• Declaration of a special dividend of $0.35 per share, indicating financial health.
• Initiation of a quarterly cash dividend, starting at $0.04 per share, showing commitment to returning value to shareholders.

Negative

• None.

LAKEWOOD, NJ / ACCESSWIRE / August 29, 2022 / First Commerce Bank (OTC PINK:CMRB) announced today that its Board of Directors has declared a special dividend of $0.35 per share, payable on September 20, 2022, to shareholders of record as of September 6, 2022.

In addition, the Board of First Commerce Bank approved the commencement of a quarterly cash dividend, starting in the fourth quarter of 2022. The initial dividend will be $0.04 per share. Payment and record dates will be announced early in the fourth quarter.

Donald Mindiak, President and CEO of First Commerce Bank, stated: "We are pleased to announce our first cash dividend. Our Board is focused on providing a return to our shareholders, and both this special dividend and the initiation of a regular quarterly dividend are the first two steps our Board is taking to enhance shareholder value."

About First Commerce Bank

Established in 2006 and headquartered in Lakewood, New Jersey, the Bank has offices in Allentown, Bordentown, Closter, Englewood, Fairfield, Freehold, Lakewood, Montvale, Robbinsville and Teaneck, New Jersey. The Bank provides businesses and individuals a wide range of loans, deposit products and retail and commercial banking services. For more information, please go to www.firstcommercebank.com.

CONTACT

David Onderko
Senior Vice President
Chief Financial Officer
105 River Avenue
Lakewood NJ 08701-4267
Phone: (732) 364-0032 x1245
Direct: (732) 719-6516
Fax: (732) 364-0042
donderko@firstcommercebk.com

SOURCE: First Commerce Bank

View source version on accesswire.com:
https://www.accesswire.com/713796/First-Commerce-Bank-Announces-Special-Cash-Dividend-and-Commencement-of-Regular-Quarterly-Cash-Dividend

FAQ

What is the dividend amount announced by First Commerce Bank?

First Commerce Bank announced a special dividend of $0.35 per share.

When is the special dividend payment date for CMRB?

The special dividend will be payable on September 20, 2022.

What are the details about the quarterly cash dividend for CMRB?

The quarterly cash dividend will commence in the fourth quarter of 2022, starting at $0.04 per share.

Who is eligible for the special dividend from First Commerce Bank?

Shareholders of record as of September 6, 2022, are eligible for the special dividend.