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First National Bank Alaska's board establishes effective date of 10-for-1 stock split.

M2 EQUITYBITES-June 7, 2018-First National Bank Alaska's board establishes effective date of 10-for-1 stock split

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First National Bank Alaska's (OTC PINK:FBAK) board of directors on its 31 May 31 regular scheduled meeting, set a record date of 27 July 2018 and an effective date of 10 August 2018, for the company's 10-for-1 stock split.

The company mentioned that the effective date is the date when shares are issued to the share owners of record date. By splitting the stock, it will increase trading and liquidity in the stock by making the price more affordable, per share.

Further, the proposal to forward split the bank's common stock and to effect a denial of pre-emptive rights, was approved at the bank's annual shareholders meeting on 24 April 2018 in Anchorage, Alaska. The board confirmed this action of the shareholders in their regular 25 April 2018 organisational meeting.

First National meets the financial needs of Alaska with ATMs and branches in 18 communities in the state. The bank is owned in Alaska and operated since 1922.

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Publication:M2 EquityBites (EQB)
Geographic Code:1U9AK
Date:Jun 7, 2018
Words:193
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