POST FALLS, Idaho--(BUSINESS WIRE)--Community 1st Bank (OTC Pink: CMYF) announced today that the Bank’s Board of Directors declared a 5% percent stock dividend on the Bank’s outstanding common stock. The stock dividend will be payable on May 25, 2018 to shareholders of record as of the close of business on May 3, 2018.
In lieu of issuing fractional shares of stock in connection with the stock dividend, cash (equivalent to the value of the common stock determined in good faith by the Board in such manner as it deems appropriate) shall be paid to shareholders of record.
Community 1st Bank is an Idaho state-chartered commercial bank headquartered in Post Falls, Idaho. At March 31, 2018, the Bank had total assets of $129.3 million and shareholders’ equity of $13.2 million.