ELMER BANCORP, INC. Announces Cash Dividend

Rhea-AI Summary

ELMER Bancorp, Inc. (OTC Pink: ELMA) declared a cash dividend of $0.20 per common share on October 3, 2022, payable on November 1, 2022. Shareholders of record as of October 14, 2022 will receive this dividend. Brian W. Jones, President and CEO, highlighted the Board's commitment to return on investment despite ongoing economic challenges. The First National Bank of Elmer has been serving the community since 1903, focusing on retail and business banking.

Positive

• Dividend of $0.20 per share reflects shareholder return.
• Ongoing commitment to providing returns despite economic challenges.

Negative

• Economic uncertainty may affect future dividends and company performance.

ELMER, N.J.--(BUSINESS WIRE)-- ELMER BANCORP, INC. (“Elmer Bancorp” or the “Company”) (OTC Pink: ELMA), parent company of The First National Bank of Elmer (the “Bank”), announced that the Board of Directors declared a cash dividend on October 3, 2022 in the amount of $0.20 per common share, payable on November 1, 2022 to shareholders of record as of the close of business on October 14, 2022.

Brian W. Jones, President and CEO of the Company stated, “While challenges remain in the current and emerging economic environment, the Board of Directors found it appropriate to provide the shareholders a return on their investment while remaining acutely aware of the continuing degree of uncertainty in the market.”

The First National Bank of Elmer, a nationally chartered bank headquartered in Elmer, New Jersey, has a long history of serving the community since its beginnings in 1903. We are a community bank focused on providing deposit and loan products to retail customers and to small and mid-sized businesses from our six full service branch offices located in Cumberland, Gloucester and Salem Counties, New Jersey, including our main office located at 10 South Main Street in Elmer, New Jersey. Deposits at The First National Bank of Elmer are insured up to the legal maximum amount by the Federal Deposit Insurance Corporation (FDIC).

View source version on businesswire.com: https://www.businesswire.com/news/home/20221003005974/en/

Cynthia L. Volk

Senior Vice President

Financial Officer

1-856-358-7000

Source: ELMER BANCORP, INC.

FAQ

What is the dividend amount declared by ELMA?

The dividend amount declared by ELMA is $0.20 per common share.

When is the dividend payable for ELMA?

The dividend is payable on November 1, 2022.

What is the record date for the ELMA dividend?

The record date for the ELMA dividend is October 14, 2022.

How long has the First National Bank of Elmer been in operation?

The First National Bank of Elmer has been in operation since 1903.

What challenges did ELMA mention regarding economic conditions?

ELMA mentioned ongoing economic challenges that may impact future performance.