DATE: November 29, 2023 NEWS RELEASE Absecon Bancorp First National Bank of Absecon Absecon, NJ Absecon Bancorp (the “Company”) (OTC, trading as ASCN), the bank holding company of First National Bank of Absecon, an Atlantic County New Jersey based community bank, announced today that its Board of Directors authorized a cash dividend in the […]
The financial sector has been under intense scrutiny after the failure of two large financial institutions that specialized in high-risk industries, such as the cryptocurrency sector. Some depositors in local communities might be wondering what this means for their hard-earned money. But consumers ━ and policymakers in Washington ━ must distinguish between community banks like First National Bank of Absecon, which has been serving consumers and small businesses in South Jersey since 1916, and these large banks with a much different business model and risk profile.
Absecon Bancorp (the “Company”) (OTC, trading as ASCN), the bank holding company of First National Bank of Absecon, an Atlantic County New Jersey based community bank, announced today that its Board of Directors authorized a 2021 share repurchase plan. Under the terms of the 2021 share repurchase plan, the Company is authorized to buy back up to 10,000 shares, representing approximately 8.9% of its 112,281 issued and outstanding shares of common stock.
Absecon Bancorp First National Bank of Absecon Absecon, NJ Absecon Bancorp (the “Company”) (OTC, trading as ASCN), the bank holding company of First National Bank of Absecon, an Atlantic County New Jersey based community bank, announced today that its Board of Directors authorized a special cash dividend in the amount of $3.00 per share, in addition to a regular annual cash dividend in the amount of $2.00 per share.
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