ANCHORAGE, Alaska--(BUSINESS WIRE)--At the May 31 regularly scheduled meeting of the First National Bank Alaska (OTC PINK: FBAK) Board of Directors, the Board set a Record Date of Friday, July 27, 2018 and an Effective Date of Friday, Aug. 10, 2018 for the 10-for-1 stock split.
The Effective Date is the date when shares are issued to the owners of record.
The proposal to forward split the bank common stock at a ratio of 10:1, and to effect a denial of preemptive rights was approved at the bank’s Annual Meeting of Shareholders conducted April 24, 2018 in Anchorage, Alaska. The Board confirmed the shareholder action at their regularly scheduled April 25, 2018 organizational meeting.
By splitting the stock, First National will increase trading and liquidity in the stock by making the price per share more affordable.
Alaskan-owned and operated since 1922, First National proudly meets the financial needs of Alaskans with ATMs and branches in 18 communities throughout the state. In 2017, Alaska Business Monthly readers voted the bank the “Best of Alaska Business” in five categories, including the Best Place to Work for the second year in a row and best Customer Service, Corporate Citizen, Family-Owned Business and Alaska Ad Campaign. In January 2018, MSN.com named First National the most admired company in the state.
Visit FNBAlaska.com for more information about Alaska’s largest locally-owned bank and access to efficient and secure online banking services.