CLDB - Dividend announcements

Net income improves 3% for the quarter; up 44% through six months Announced merger with Farmers National Banc Corp expected to close in fourth quarter 2021 CORTLAND, Ohio, July 27, 2021 (GLOBE NEWSWIRE) -- Cortland Bancorp (NASDAQ:CLDB) announced its second quarter 2021 financial results. Net income for the three months ending June 30, 2021 was $2.0 million, or $0.48 per share, which was 3% higher than the income level of $1.9 million, or $0.47 per share, for the first quarter of 2020. First quarter 2021 net income was $2.8 million, or $0.66 per share. The Company realized a return on average assets ratio of .99% and 1.18% respectively, for the three- month and six-month periods e

CORTLAND, Ohio, July 21, 2021 (GLOBE NEWSWIRE) -- Cortland Bancorp (NASDAQ:CLDB), the holding company for Cortland Savings and Banking Company, today announced that its Board of Directors approved a quarterly cash dividend of $0.15 per share. The dividend will be payable on September 1, 2021, to shareholders of record as of the close of business on August 9, 2021. "In response to our continued solid earnings performance, we are pleased to be able to continue the quarterly cash dividend," said James Gasior, President and Chief Executive Officer. "Cash dividends, along with our share price appreciation, provide an attractive return to our shareholders." At the recent stock price of $26.80 p

CORTLAND, Ohio, April 21, 2021 (GLOBE NEWSWIRE) -- Cortland Bancorp (NASDAQ:CLDB), the holding company for Cortland Savings and Banking Company, today announced that its Board of Directors approved a quarterly cash dividend of $0.15 per share. The dividend will be payable on June 1, 2021, to shareholders of record as of the close of business on May 17, 2021. "In response to our continued solid earnings performance, we are pleased to be able increase the quarterly cash dividend by 7%," said James Gasior, President and Chief Executive Officer. "Cash dividends, along with our share price appreciation, provide an attractive return to our shareholders." At the recent stock price of $22.62 per

CORTLAND, Ohio, Jan. 21, 2021 (GLOBE NEWSWIRE) -- Cortland Bancorp (NASDAQ: CLDB), the holding company for The Cortland Savings and Banking Company, today adopted a new stock repurchase program (“program”). Under the program, the Company is authorized to repurchase up to 200,000 of its 4,223,153 issued and outstanding shares, equating to approximately 4.7%. The repurchase plan approved March 18, 2020 expired on December 31, 2020. At the time the Program expired, the Company had repurchased 146,318 shares from the 300,000 shares authorized for repurchase in 2020. The new program is effective immediately through December 31, 2021 but may be limited or terminated at any time without prior not

CORTLAND, Ohio, Jan. 21, 2021 (GLOBE NEWSWIRE) -- Cortland Bancorp (NASDAQ: CLDB), the holding company for Cortland Savings and Banking Company, today announced that its Board of Directors approved a quarterly cash dividend of $0.14 per share. The dividend will be payable on March 1, 2021, to shareholders of record as of the close of business on February 10, 2021. “In response to our continued solid earnings performance, we are pleased to continue the quarterly cash dividend,” said James Gasior, President and Chief Executive Officer. “Cash dividends, along with our share price appreciation, provide an attractive return to our shareholders.” At the recent stock price of $18.50 per share, t