October 20, 2015
Lyons Bancorp, Inc. (OTCBB: LYBC.OB) announced today that the Company's Board of Directors approved a 2-for-1 split of the Company's common stock.
Shareholders of record at the close of business on October 30, 2015, without surrender of any certificates for their currently held shares, will receive one additional share for every one share held. The stock split will be effective with the close of business on October 30, 2015. Following the stock split, the Company will have approximately 3 million shares outstanding.
"This is the fourth time we have split our shares, the last being in early 2012, said Robert A. Schick, President and Chief Executive Officer. "Based on its current trading price, the Board's action moves our share price into the more affordable mid-$20 range."