DELANCO BANCORP, INC. (OTCMKTS:DLNO) Files An 8-K Submission of Matters to a Vote of Security HoldersItem 5.07 Submission of Matters to a Vote of Security Holders.
A special meeting of the shareholders of Delanco Bancorp, Inc. (the “Company”) was held on April 24, 2018. The final results for the matters submitted to a vote of shareholders at the special meeting are as follows:
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1. |
The proposal to approve an Agreement and Plan of Reorganization, dated as of October18, 2017, as amended on March12, 2018, by and between the Company and First Bank providing for the merger of Delanco with and into FB Merger Corp., a New Jersey corporation and wholly owned subsidiary of First Bank (the“Merger”). |
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FOR |
AGAINST |
ABSTAIN |
BROKER NON-VOTES |
|
767,584 |
13,726 |
|
|
2. |
The proposal to approve, on a non-binding advisory basis, the compensation that may be paid or become payable to the Company’s named executive officers in connection with the completion of the Merger. |
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FOR |
AGAINST |
ABSTAIN |
BROKER NON-VOTES |
|
725,397 |
39,902 |
16,163 |
About DELANCO BANCORP, INC. (OTCMKTS:DLNO)
Delanco Bancorp, Inc. is a holding company, which operates as a community-oriented financial institution, offering financial services. The Company, through its banking subsidiary, Delanco Federal Savings Bank, is engaged in the business of attracting deposits from the general public and using such funds to originate one- to four-family real estate loans, multi-family and non-residential real estate loans, home equity loans and consumer loans, which are primarily held for investment by the Company. The Company’s investment portfolio consists of mortgage-backed securities and debt securities of government sponsored enterprises. The Company’s sources of funds include deposits, borrowings and loan repayments. The Company offers a range of deposit instruments, such as non-interest-bearing demand deposits (such as checking accounts), interest-bearing demand accounts (such as negotiable order of withdrawal and money market accounts), savings accounts and certificates of deposit.
