Elmira Savings Bank Declares Cash Dividend

Rhea-AI Summary

Elmira Savings Bank (NASDAQ:ESBK) has announced a cash dividend of $0.15 per share on common shares, set to be distributed on December 11, 2020. Shareholders of record as of December 4, 2020 will qualify for this payment. The bank, with total assets of $667.0 million, operates multiple offices across several counties in New York and is FDIC insured. The release also mentions forward-looking statements that include various risks such as competitive products and management of growth.

Positive

• Declared cash dividend of $0.15 per share for shareholders.
• Total assets of $667.0 million indicate financial stability.

Negative

• Risks related to competitive products and pricing may impact growth.

News Market Reaction – ESBK

+5.74%

+5.74% Session move

In the trading session that priced this news, ESBK gained 5.74%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

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ELMIRA, N.Y., Nov. 18, 2020 (GLOBE NEWSWIRE) -- The Board of Directors of Elmira Savings Bank (NASDAQ:ESBK) has declared a $0.15 per share cash dividend on their existing common shares outstanding. The cash dividend will be paid on December 11, 2020 to shareholders of record December 4, 2020.

Elmira Savings Bank, with $667.0 million in total assets, is insured by the Federal Deposit Insurance Corporation (FDIC) and is a state-chartered bank with five offices in Chemung County, NY; three offices in Tompkins County, NY; two offices in Steuben County, NY; one office in Cayuga County, NY; one office in Schuyler County; and a loan center in Broome County, NY.

Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve the risks and uncertainties, including the timely availability and acceptance of Bank products, the impact of competitive products and pricing, the management of growth, and other risks detailed from time to time in the Bank’s publicly available regulatory reports.

For further information contact:
Thomas M. Carr, President & CEO
Elmira Savings Bank
333 East Water Street
Elmira, New York 14901
(607) 735-8660
E-Mail tcarr@elmirasavingsbank.com

FAQ

What is the dividend amount for Elmira Savings Bank (ESBK)?

The dividend amount is $0.15 per share.

When will the dividend for ESBK be paid?

The dividend will be paid on December 11, 2020.

What is the record date for the dividend payment for ESBK?

The record date for the dividend payment is December 4, 2020.

How does Elmira Savings Bank ensure financial stability?

Elmira Savings Bank has a total of $667.0 million in assets and is FDIC insured.

What risks are associated with Elmira Savings Bank's growth?

The bank faces risks related to competitive products and pricing.