Freedom Bank Announces Stock Split
February 20 2014 - 4:56PM
Business Wire
Freedom Bank of Virginia (Bank) (OTC.QB:FDVA) announces an
eleven for ten stock split. The split will result in shareholders
receiving one additional share of common stock for every ten shares
of common stock owned. The Bank completed a fourth year of strong
profits in 2013 on record loan growth. According to CEO Craig
Underhill, “The Bank made significant investments in people to
expand the Bank’s lending capacity in 2103. We realized a return on
that investment through strong loan growth that helped increase net
profit. This tax free distribution of additional shares rewards our
shareholders for their continued support of our Bank.” The split
will be effective for stockholders owning the stock on April 1,
2014.
This release contains forward-looking statements, including our
expectations with respect to future events that are subject to
various risks and uncertainties. Factors that could cause actual
results to differ materially from management's projections,
forecasts, estimates and expectations include: fluctuation in
market rates of interest and loan and deposit pricing, adverse
changes in the overall national economy as well as adverse economic
conditions in our specific market areas, maintenance and
development of well-established and valued client relationships and
referral source relationships, and acquisition or loss of key
production personnel. Other risks that can affect the Bank are
detailed from time to time in our quarterly and annual reports
filed with the Board of Governors of the Federal Reserve System. We
caution readers that the list of factors above is not exclusive.
The forward-looking statements are made as of the date of this
release, and we may not undertake steps to update the
forward-looking statements to reflect the impact of any
circumstances or events that arise after the date the
forward-looking statements are made. In addition, our past results
of operations are not necessarily indicative of future
performance.
Freedom Bank of VirginiaCraig S. Underhill, President &
CEO703-242-5300
Freedom Financial (QX) (USOTC:FDVA)
Historical Stock Chart
From Jun 2024 to Jul 2024
Freedom Financial (QX) (USOTC:FDVA)
Historical Stock Chart
From Jul 2023 to Jul 2024