PORTER BANCORP, INC. (NASDAQ:PBIB) Files An 8-K Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Item 5.03 Amendments to Articles of Incorporation or Bylaws;
Change in Fiscal Year.
Inc. (the Company) to implement a 1-for-5 reverse stock split of
the Companys issued and outstanding Common Shares and Non-Voting
Common Shares (Reverse Stock Split) took effect at 5:00 p.m.
eastern time on Friday, December 16, 2016. At that time:
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Each Common Share issued and outstanding immediately
before the effective time was automatically changed into one-fifth of a Common Share (“Post-Split Common Share”); |
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Each Non-Voting Common Share issued and outstanding
immediately before the Effective Time was automatically changed into one-fifth of a Non-Voting Common Share (“Post-Split Non-Voting Common Share”); and |
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Any fractional share resulting from those changes was
rounded up to one whole Post-Split Common Share, or one whole Post-Split Non-Voting Common Share, as applicable. |
Shares and Non-Voting Common Shares issued and outstanding
immediately before and after the Reverse Stock Split.
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Issued and Outstanding
Before Reverse Stock Split
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Issued and Outstanding
After Reverse Stock Split
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Common Shares
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23,156,969
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4,632,933
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Non-Voting Common Shares
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7,958,000
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1,591,600
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Shares and Non-Voting Common Shares the Company is authorized to
issue. The Company is currently authorized to issue 28,000,000
Common Shares and 10,000,000 Non-Voting Common Shares.
Shareholders have previously authorized our Board of Directors to
increase the number of Common Shares and Non-Voting Common Shares
the Company is authorized to issue without further shareholder
approval to up to 86,000,000 Common Shares and 34,380,437
Non-Voting Common Shares.
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Exhibit
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Description
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3.1
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Articles of Amendment to the Articles of Incorporation of
Porter Bancorp, Inc. |
About PORTER BANCORP, INC. (NASDAQ:PBIB)
Porter Bancorp, Inc. is a bank holding company. The Company operates through its subsidiary, PBI Bank (the Bank). The Bank is a community bank with a range of commercial and personal banking products. It offers retail and commercial deposit products. It offers drive-in banking facilities, automatic teller machines, night depository, personalized checks, credit cards, debit cards, Internet banking, mobile banking, treasury management services, remote deposit services, electronic funds transfers through automated clearing house services, domestic and foreign wire transfers, cash management, vault services, and loan and deposit sweep accounts. It operates banking offices in approximately 12 counties in Kentucky. Its markets include metropolitan Louisville in Jefferson County and the surrounding counties of Henry and Bullitt. It serves south central Kentucky and southern Kentucky from banking offices in Butler, Green, Hart, Edmonson, Barren, Warren, Ohio and Daviess Counties. PORTER BANCORP, INC. (NASDAQ:PBIB) Recent Trading Information
PORTER BANCORP, INC. (NASDAQ:PBIB) closed its last trading session up +0.39 at 11.84 with 5,716 shares trading hands.
