The Farmers Bancorp, Frankfort, Indiana (OTC:FABP) announced on Tuesday, that the Board of Directors has approved a two-for-one stock split to be effected in the form of a stock dividend of one additional share of common stock for each outstanding share of common stock. The stock dividend will be payable on April 11, 2017 to shareholders of record at the close of business on March 28, 2017. Stock certificates representing the newly-issued shares will be delivered to registered shareholders on the payment date. Shareholders who hold their common shares through a broker or other intermediary will have their accounts automatically updated to reflect the share split in accordance with the applicable brokerage account provider’s usual procedures.
“For the first time in over 20 years, The Farmers Bancorp Directors has authorized a 2 for 1 stock split of the common stock of Farmers Bancorp. Our decision to split the stock reaffirms our commitment to building shareholder value and comes at a time of strong investor confidence in The Farmer’s Bank performance. The Farmers Bank believes that the stock split of its common shares (which will be effected in the form of a 100% stock dividend) will result in a market price of our shares that will be more attractive to a wider range of investors and will increase liquidity in the trading of The Farmer’s Bancorp shares” said President and CEO, Karen F. Gregerson.
The Farmers Bancorp, Frankfort Indiana is the parent corporation of The Farmers Bank, Frankfort Indiana. The Farmers Bank is a $500 million asset organization chartered in 1876 with headquarters in Frankfort, IN. The Farmers Bank is locally owned and operated with 10 banking offices located in Central Indiana providing retail, business, trust & asset management, investment, mortgage, and electronic banking services. Member FDIC, Equal Housing Lender.