Business
First Commerce Bancorp, Inc., Declares Cash Dividend
First Commerce Bancorp, Inc., Declares Cash Dividend.
About this update from First Commerce Bancorp Inc.
[{"type":"text","content":"\r\n\r\n \r\n \r\n First Commerce Bancorp, Inc., Declares Cash Dividend\r\n \r\n \r\n\r\n\r\nFirst Commerce Bancorp, Inc., Declares Cash Dividend\r\n\r\n\r\n\r\n\r\n\r\nLAKEWOOD, NJ / ACCESS Newswire / March 30, 2026 / First Commerce Bancorp, Inc. (the \"Company\"), (OTCID:CMRB), the holding company for First Commerce Bank (the \"Bank\"), today announced that the Board of Directors has unanimously declared a cash dividend of $0.05 per common share to all shareholders of record as of April 13, 2026 with a payable date of April 28, 2026.\r\n President & CEO Donald Mindiak commented, \"On the heels of a capital raise in the form of a $40.0 million Subordinated Debt Offering, which was noteworthy in that it was accomplished without diluting our current shareholders, coupled with the successful execution of the recently completed Tender Offer, repurchasing 3.0 million shares of our common stock at a discount to our tangible book value, we were able to provide our shareholders with an appreciable increase in their tangible book value while increasing their percentage ownership in the Company by over 28%. These actions underscore our continued focus on enhancing shareholder value and strengthening shareholder investment in our Company. Through the completion of our two, 10% stock repurchase plans in addition to the aforementioned Tender Offer, we have repurchased over 7.5 million shares of our common stock, decreasing the Company's outstanding share count from 24.5 million shares to approximately 17.0 million shares, which will have a positive impact on both our earnings per share and return on equity calculations prospectively\".\r\n Board Chairman, Thomas P. Bovino, continued, \"The declaration of this cash dividend reflects the benefits realized from the successful execution of those corporate initiatives mentioned above, as well as the confidence that our Board and Management have in our collective ability to identify, institute and execute those initiatives, with the purpose of creating additional and enhanced shareholder value. We remain committed to the continued pursuit of like initiatives that have the capacity to provide opportunities for delivering shareholder value and look forward to building on this momentum.\"\r\n About First Commerce Bancorp, Inc.First Commerce Bancorp, Inc, is a financial services organization head...