Endeavor Bancorp Declares 2% Stock Dividend
Endeavor Bancorp, the holding company for Endeavor Bank, has declared a 2% stock dividend to be distributed on May 20, 2024, to shareholders of record on May 10, 2024. Shareholders will receive two additional shares of common stock for every 100 shares currently owned. The stock dividend aims to build shareholder value and increase trading liquidity. Endeavor Bancorp focuses on local businesses in Southern California and operates across multiple locations.
Endeavor Bancorp declared a 2% stock dividend, reflecting the company's commitment to building shareholder value.
The stock dividend aims to improve trading liquidity by increasing the number of shares available.
The bank's focus on local businesses in Southern California strengthens community relationships and fosters growth.
Shareholders will receive a cash payment in lieu of fractional shares, potentially affecting the overall value of the dividend.
Endeavor Bancorp may not have the most current shareholder contact information, which could lead to communication challenges.
SAN DIEGO, May 03, 2024 (GLOBE NEWSWIRE) -- Endeavor Bancorp (OTCQX: EDVR) (the “Company,” or “Bancorp”), the holding company for Endeavor Bank (the “Bank”), today announced its Board of Directors has declared a
Shareholders will receive two additional shares of common stock for every 100 shares currently owned. A cash payment will be made in lieu of fractional shares in an amount equal to the product of (a) the fair value of a share of common stock on the Record Date, multiplied by (b) the applicable fraction of one share of common stock owned by the shareholder.
“This stock dividend reflects our continued focus on building shareholder value,” said Dan Yates, CEO. “We view this stock dividend as a way to share our success with shareholders and as a means of improving trading liquidity by increasing the number of shares available.”
About Endeavor Bancorp
Endeavor Bancorp, the holding company for Endeavor Bank, is primarily owned and operated by Southern Californians for Southern California businesses and their owners. The bank’s focus is local: local decision-making, local board, local founders, local owners, and relationships with local clients in Southern California.
Headquartered in downtown San Diego in the Symphony Towers building, the Bank also operates a loan production and executive administration office in Carlsbad and a branch office in La Mesa. Endeavor Bank provides traditional business banking services across a broad spectrum of industries and specialties. Unique to the bank is its consultative banking approach that partners our business clients with Endeavor Bank’s senior management. Together, we build strategies and provide resources that solve problems, plan for the future, and help clients’ efforts to grow revenues and profits. Endeavor Bancorp trades on the OTCQX® Best Market under the symbol “EDVR.” Visit www.endeavor.bank for more information.
EDVR Shareholders
With many of our shareholders transferring their EDVR shares to their brokerage companies, along with ongoing trading taking place, Bancorp may not have the most current shareholder contact information. If you are an EDVR shareholder and would like to receive information via a more timely method, please complete the Shareholder Communication Preference Form on our website: https://www.bankendeavor.com/investor-relations so we can keep you updated on EDVR news, and invite you to various shareholder networking events throughout the year.
Forward-Looking Statements
This press release includes “forward-looking statements,” as such term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on the current beliefs of the Company’s directors and executive officers (collectively, “Management”), as well as assumptions made by and information currently available to the Company’s Management. All statements regarding the Company’s business strategy and plans and objectives of Management of the Company for future operations, are forward-looking statements. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect” and “intend” and words or phrases of similar meaning, as they relate to the Company or the Company’s Management, are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Important factors that could cause actual results to differ materially from the Company’s expectations (“cautionary statements”) are loan losses, rapid and unanticipated deposit withdrawals, unavailability of sources of liquidity, additional regulatory requirements that may be imposed on community banks or banks generally, changes in interest rates, loss of key personnel, lower lending limits and capital than competitors, regulatory restrictions and oversight of the Company, the secure and effective implementation of technology, risks related to the local and national economy, changes in real estate values, the Company’s implementation of its business plans and management of growth, loan performance, interest rates, and regulatory matters, the effects of trade, monetary and fiscal policies, inflation, and changes in accounting policies and practices. Based upon changing conditions, if any one or more of these risks or uncertainties materialize, or if any underlying assumptions prove incorrect, actual results may vary materially from those described as anticipated, believed, estimated, expected, or intended. The Company does not intend to update these forward-looking statements.
Endeavor Bancorp Contact Information:
(858) 230.5185
Dan Yates, CEO
dyates@bankendeavor.com
(619) 887.3505
Julie Glance, CFO
jglance@bankendeavor.com
FAQ
When will the 2% stock dividend be distributed to shareholders of Endeavor Bancorp?
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What is unique about Endeavor Bank's approach to business banking?
