Cortland Bancorp Declares Dividend
February 01, 2013
CORTLAND (2/1/13) - CORTLAND BANCORP (the “Company,” OTCQB: CLDB) today announced that its Board of Directors has approved a cash dividend of $.03 per share payable on or after February 28, 2013 to shareholders of record as of the close of business on February 14, 2013.
“The continuing payment of a dividend reflects our growing confidence in the Company, supported by strong core earnings, increasing loan production, and restored capital levels well above regulatory requirements,” stated James Gasior, Chief Executive Officer.
“We are pleased that the Company’s financial strength and improved earnings power positions us to return profits to our shareholders, while at the same time growing our business.”
Additional information about Cortland Bancorp can be found online at:
For additional information, please contact:
David J. Lucido, CPA
SVP & Chief Financial Officer
194 W. Main St.
Cortland, OH 44410
330.637.8040, Ext 164