Marquette National Corporation Declares a Dividend of $0.28 per Share

Rhea-AI Summary

Marquette National (OTCQX: MNAT) has announced a cash dividend of $0.28 per share, payable on January 2, 2025 to shareholders of record on December 20, 2024. As of September 30, 2024, the company had 4,372,352 shares issued and outstanding.

Marquette National is a diversified bank holding company with total assets of approximately $2.20 billion. Its banking subsidiary, Marquette Bank, offers a wide range of financial solutions including retail banking, real estate lending, trust, insurance, investments, wealth management, and business banking services. The bank operates 20 branches across various locations in Chicagoland, Illinois.

Positive

• Declaration of a cash dividend of $0.28 per share
• Total assets of approximately $2.20 billion
• Extensive network of 20 branches in Chicagoland area
• Diverse range of financial services offered

Negative

• None.

CHICAGO, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Marquette National Corporation (OTCQX: MNAT) today announced that its Board of Directors declared a cash dividend of $0.28 per share. The dividend will be payable on January 2, 2025 to shareholders of record on December 20, 2024. As of September 30, 2024, Marquette National Corporation had 4,372,352 shares issued and outstanding.  

Marquette National Corporation is a diversified bank holding company with total assets of approximately $2.20 billion. The Company's banking subsidiary, Marquette Bank, is a full-service, community bank that serves the financial needs of communities in Chicagoland, offering an extensive line of financial solutions, including retail banking, real estate lending, trust, insurance, investments, wealth management and business banking to consumers and commercial customers. Marquette Bank has 20 branches located in: Chicago, Bolingbrook, Bridgeview, Evergreen Park, Hickory Hills, Lemont, New Lenox, Oak Forest, Oak Lawn, Orland Park, Summit and Tinley Park, Illinois. For more information visit: https://emarquettebank.com.

Special Note Concerning Forward-Looking Statements
This document contains, and future oral and written statements of the Company and its management may contain, forward-looking statements with respect to the financial condition, results of operations, plans, objectives, future performance and business of the Company. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of the Company’s management and on information currently available to management, are generally identifiable by the use of words such as “believe,” “expect,” “anticipate,” “plan,” “intend,” “estimate,” “may,” “will,” “would,” “could,” “should” or other similar expressions. A number of factors, many of which are beyond the ability of the Company to control or predict, could cause actual results to differ materially from those in its forward-looking statements. These factors include, among others, the following: (i) the strength of the local, state, national and international economies(including the effects of inflationary pressures and supply chain constraints); (ii) the economic impact of any future terrorist threats and attacks, widespread disease or pandemics, acts of war or other threats thereof (including the ongoing Israeli-Palestinian conflict and the Russian invasion of Ukraine), or other adverse external events that could cause economic deterioration or instability in credit markets, and the response of the local, state and national governments to any such adverse external events; (iii) changes in accounting policies and practices, as may be adopted by state and federal regulatory agencies, the Financial Accounting Standards Board or the Public Company Accounting Oversight Board; (iv) changes in local, state and federal laws, regulations and governmental policies concerning the Company’s general business as a result of the upcoming 2024 presidential election or any changes in response to failures of other banks; (v) changes in interest rates and prepayment rates of the Company’s assets (including the impact of the significant rate increases by the Federal Reserve since 2022); (vi) increased competition in the financial services sector (including from non-bank competitors such as credit unions and “fintech” companies) and the inability to attract new customers; (vii) changes in technology and the ability to develop and maintain secure and reliable electronic systems; (viii) the loss of key executives or employees; (ix) changes in consumer spending; (x) unexpected outcomes of existing or new litigation involving the Company; (xi) the economic impact of exceptional weather occurrences such as tornadoes, floods and blizzards; (xii) fluctuations in the value of securities held in our securities portfolio; (xiii) concentrations within our loan portfolio, large loans to certain borrowers, and large deposits from certain clients; (xiv) the concentration of large deposits from certain clients who have balances above current Federal Deposit Insurance Corporation insurance limits and may withdraw deposits to diversity their exposure; (xv) the level of non-performing assets on our balance sheets; (xvi) interruptions involving our information technology and communications systems or third-party servicers; (xvii) breaches or failures of our information security controls or cybersecurity-related incidents, and (xviii) the ability of the Company to manage the risks associated with the foregoing as well as anticipated.. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Additionally, all statements in this document, including forward-looking statements, speak only as of the date they are made, and the Company undertakes no obligation to update any statement in light of new information or future events.

For more information:
Patrick Hunt
EVP & CFO
708-364-9019
phunt@emarquettebank.com

FAQ

What is the dividend amount declared by Marquette National (MNAT)?

Marquette National (MNAT) has declared a cash dividend of $0.28 per share.

When is the dividend payable for Marquette National (MNAT) shareholders?

The dividend is payable on January 2, 2025 to shareholders of record on December 20, 2024.

How many shares does Marquette National (MNAT) have issued and outstanding as of September 30, 2024?

As of September 30, 2024, Marquette National (MNAT) had 4,372,352 shares issued and outstanding.

What are the total assets of Marquette National (MNAT) as reported in the press release?

Marquette National (MNAT) reported total assets of approximately $2.20 billion.