First Commerce Bancorp, Inc., Declares Cash Dividend

Rhea-AI Summary

First Commerce Bancorp (OTCID: CMRB) declared a $0.05 per common share cash dividend to shareholders of record on April 13, 2026, payable April 28, 2026.

The Board cited recent capital and capital-return actions: a $40.0 million subordinated debt offering, a completed tender offer repurchasing 3.0 million shares at a discount, and two 10% repurchase plans. Total share repurchases exceed 7.5 million shares, reducing outstanding shares from 24.5 million to ~17.0 million, which the company says should boost tangible book value, EPS and ROE prospectively.

Positive

• Share repurchases of over 7.5 million shares reduced float materially
• Outstanding shares decreased from 24.5M to ~17.0M
• Tender offer repurchased 3.0 million shares at a discount
• $40.0M subordinated debt raised without diluting shareholders

Negative

• $40.0M subordinated debt increases company leverage and interest obligations

LAKEWOOD, NJ / ACCESS Newswire / March 30, 2026 / First Commerce Bancorp, Inc. (the "Company"), (OTCID:CMRB), the holding company for First Commerce Bank (the "Bank"), today announced that the Board of Directors has unanimously declared a cash dividend of $0.05 per common share to all shareholders of record as of April 13, 2026 with a payable date of April 28, 2026.

President & CEO Donald Mindiak commented, "On the heels of a capital raise in the form of a $40.0 million Subordinated Debt Offering, which was noteworthy in that it was accomplished without diluting our current shareholders, coupled with the successful execution of the recently completed Tender Offer, repurchasing 3.0 million shares of our common stock at a discount to our tangible book value, we were able to provide our shareholders with an appreciable increase in their tangible book value while increasing their percentage ownership in the Company by over 28%. These actions underscore our continued focus on enhancing shareholder value and strengthening shareholder investment in our Company. Through the completion of our two, 10% stock repurchase plans in addition to the aforementioned Tender Offer, we have repurchased over 7.5 million shares of our common stock, decreasing the Company's outstanding share count from 24.5 million shares to approximately 17.0 million shares, which will have a positive impact on both our earnings per share and return on equity calculations prospectively".

Board Chairman, Thomas P. Bovino, continued, "The declaration of this cash dividend reflects the benefits realized from the successful execution of those corporate initiatives mentioned above, as well as the confidence that our Board and Management have in our collective ability to identify, institute and execute those initiatives, with the purpose of creating additional and enhanced shareholder value. We remain committed to the continued pursuit of like initiatives that have the capacity to provide opportunities for delivering shareholder value and look forward to building on this momentum."

About First Commerce Bancorp, Inc.
First Commerce Bancorp, Inc, is a financial services organization headquartered in Lakewood, New Jersey. The Bank, the Company's wholly owned subsidiary, provides businesses and individuals a wide range of loans, deposit products and retail and commercial banking services through its branch network located in Allentown, Bordentown, Closter, Englewood, Fairfield, Freehold, Jackson, Lakewood, Robbinsville and Teaneck, New Jersey. For more information, please go to www.firstcommercebk.com.

Forward-Looking Statements
This release, like many written and oral communications presented by First Commerce Bancorp Inc., and our authorized officers, may contain certain forward-looking statements regarding our prospective performance and strategies within the meaning of Section 27A of the Securities Act of 1933 as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and are including this statement for purposes of said safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations of the Company, are generally identified by use of the words "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "seek," "strive," "try," or future or conditional verbs such as "could," "may," "should," "will," "would," or similar expressions. Our ability to predict results or the actual effects of our plans or strategies is inherently uncertain. Accordingly, actual results may differ materially from anticipated results.

In addition to the factors previously disclosed in prior Bank communications and those identified elsewhere, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: the impact of changes in interest rates and in the credit quality and strength of underlying collateral and the effect of such changes on the market value of First Commerce Bank's investment securities portfolio; changes in asset quality and credit risk; the inability to sustain revenue and earnings growth; difficult market conditions and unfavorable economic trends in the United States generally, and particularly in the market areas in which First Commerce Bank operates and in which its loans are concentrated, including the effects of declines in housing market values; inflation; customer acceptance of the Bank's products and services; customer borrowing, repayment, investment and deposit practices; customer disintermediation; the introduction, withdrawal, success and timing of business initiatives; competitive conditions; the inability to realize cost savings or revenues or to implement integration plans and other consequences associated with certain corporate initiatives; economic conditions; and the impact, extent and timing of technological changes, capital management activities, and actions of governmental agencies and legislative and regulatory actions and reforms and the impact of a potential shutdown of the federal government.

Press Contact:
Donald Mindiak
First Commerce Bancorp, Inc.
Lakewood, NJ 08701
(732) 364-0032
dmindiak@firstcommercebk.com
http://firstcommercebk.com

SOURCE: First Commerce Bancorp, Inc.

View the original press release on ACCESS Newswire

FAQ

What dividend did First Commerce Bancorp (CMRB) declare on March 30, 2026?

The company declared a $0.05 per common share cash dividend. According to the company, the dividend is payable April 28, 2026 to shareholders of record April 13, 2026.

How many shares did First Commerce Bancorp (CMRB) repurchase in the recent tender offer?

First Commerce repurchased 3.0 million shares in the tender offer. According to the company, those repurchases were executed at a discount to tangible book value.

How much capital did First Commerce Bancorp (CMRB) raise with subordinated debt?

The company completed a $40.0 million subordinated debt offering. According to the company, this capital raise avoided diluting current shareholders.

What is the impact of First Commerce Bancorp's (CMRB) repurchases on outstanding shares?

Outstanding shares fell from 24.5 million to approximately 17.0 million. According to the company, this reduction should prospectively boost EPS and return on equity.

Why did First Commerce Bancorp (CMRB) declare the April 2026 cash dividend?

The Board cited benefits from recent capital actions and repurchases as rationale for the dividend. According to the company, those initiatives enhanced tangible book value and shareholder ownership percentages.