CORTLAND BANCORP (OTCMKTS:CLDB) Files An 8-K Results of Operations and Financial ConditionItem 2.02. Results of Operations and Financial Condition.
On April 26, 2017, Cortland Bancorp issued a news release reviewing the Company’s financial results for the quarter and year ended March 31, 2017. A copy of this news release is included as Exhibit 99.1 and incorporated herein by reference.
This announcement may contain forward-looking statements that involve risk and uncertainties, including changes in general economic and financial market conditions and the Company’s ability to execute its business plans. Although management believes the expectations reflected in such statements are reasonable, actual results may differ materially.
The information in this Current Report on Form 8-K, including Exhibit 99.1 included herewith, is being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liability of that Section, nor shall such information be deemed to be incorporated by reference in any registration statement or other document filed under the Securities Act of 1933 or the Exchange Act, except as otherwise stated in such filing.
Item 8.01. Other Events.
In a press release issued on April 26, 2017, President James M. Gasior announced that the Board of Directors of Cortland Bancorp (the “Company”) has declared a dividend of $0.08. The dividend is payable on or after June 1, 2017 to shareholders of record as of May 10, 2017. The press release is included as Exhibit 99.2 to this current report on Form 8K.
This announcement may contain forward-looking statements that involve risk and uncertainties, including changes in general economic and financial market conditions and the Company’s ability to execute its business plans. Although management believes the expectations reflected in such statements are reasonable, actual results may differ materially.
Item 9.01. Financial Statements and Exhibits.
Exhibit 99.1 – Press Release dated April 26, 2017
Exhibit 99.2 – Press Release dated April 26, 2017
About CORTLAND BANCORP (OTCMKTS:CLDB)
Cortland Bancorp is a bank holding company. The Company’s principal activity is to own, manage and supervise The Cortland Savings and Banking Company (Cortland Banks or the Bank). The Company operates through the commercial banking segment. The Bank is a state chartered bank engaged in commercial and retail banking. The Bank’s services include checking accounts, savings accounts, time deposit accounts, commercial, mortgage and installment loans, night depository, automated teller services, safe deposit boxes and other miscellaneous services. The Bank provides brokerage and investment services through an arrangement with Investment Professionals, Inc. Under this arrangement, financial advisors offer customers a range of investment products and services, such as estate planning, annuities, life insurance, fixed income, and equity securities and equity research and recommendations. The Bank, through Investment Professionals, Inc., also offers asset management services to customers. CORTLAND BANCORP (OTCMKTS:CLDB) Recent Trading Information
CORTLAND BANCORP (OTCMKTS:CLDB) closed its last trading session up +0.15 at 18.45 with 700 shares trading hands.