Summit Bank Group, Inc. Issues Stock Dividend
Summit Bank Group, Inc. (OTC Pink:SBKO) announced that its Board of Directors approved a five for four stock split of the company’s shares of common stock payable in the form of a stock dividend. The ex-dividend date is April 9 with shareholders of record as of April 1 receiving one additional share for every four shares they own.
According to Summit Bank Group Board of Directors Chair Paul Weinhold, “We believe the time is right for a one-time split to continue to increase the stock’s marketability and liquidity by making it attractive to a larger number of potential investors.”
Summit Bank reported net income for the fiscal year ended December 31, 2020 of
“We are excited to be in a position to provide shareholders with this stock dividend,” said Craig Wanichek, President and Chief Executive Officer. “Summit Bank and our clients were successfully able to pivot during a tumultuous 2020, which resulted in record earnings for the Bank.”
Summit Bank, a wholly owned subsidiary of Summit Bank Group, Inc. has offices in Eugene, Central Oregon and Portland, and specializes in providing high-level service to professionals and medium-sized businesses and their owners. Summit Bank Group Inc. is quoted on the NASDAQ Over-the-Counter Bulletin Board as SBKO.
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