OTTAWA BANCORP, INC. ANNOUNCES INCREASE IN QUARTERLY CASH DIVIDEND AND APPOINTMENT OF DIANNA TORMAN AS DIRECTOR
February 16 2022 - 5:37PM
Ottawa Bancorp, Inc. (OTCQX: OTTW) (the “Company”), the holding
company for OSB Community Bank (the “Bank”), announced today that
the Company’s Board of Directors has approved an increase in the
Company’s quarterly cash dividend from $0.10 per share to $0.11 per
share. The increased quarterly cash dividend will be paid on or
about March 16, 2022, to stockholders of record as of the close of
business on March 2, 2022.
The Company also announced today that Dianna
Torman has been appointed as a member of the Board of Directors of
the Company and the Bank. Ms. Torman served as the President and
Chief Executive Officer of Prairie Community Bank, headquartered in
Marengo, Illinois, from January 2003 until her retirement in
December 2021.
“We are very pleased to welcome Dianna Torman as
a director of the Company and the Bank,” said Craig M. Hepner,
President and Chief Executive Officer of the Company and the Bank.
“The Board of Directors believes that Dianna’s experience and
background make her an ideal candidate to serve on the Board and we
look forward to working with Dianna going forward.”
About Ottawa Bancorp, Inc.
Ottawa Bancorp, Inc. is the holding company for
OSB Community Bank, which provides various financial services to
individual and corporate customers in the United States. The Bank
offers various deposit accounts, including checking, money market,
regular savings, club savings, certificate, and various retirement
accounts. Its loan portfolio includes one-to-four family
residential mortgage, multi-family and non-residential real estate,
commercial, and construction loans as well as auto loans and home
equity lines of credit. OSB Community Bank was founded in 1871 and
is headquartered in Ottawa, Illinois. For more information about
the Company and the Bank, please visit www.myosb.bank.
Cautionary Statement Regarding
Forward-Looking Statements
This news release contains forward-looking
statements within the meaning of the federal securities laws.
Statements in this release that are not strictly historical are
forward-looking and are based upon current expectations that may
differ materially from actual results. These forward-looking
statements, identified by words such as “will,” “expected,”
“believe,” and “prospects,” involve risks and uncertainties that
could cause actual results to differ materially from those
anticipated by the statements made herein. These risks and
uncertainties involve, among other things, general economic trends
and changes in interest rates, increased competition, changes in
consumer demand for financial services, the possibility of
unforeseen events affecting the industry generally, the
uncertainties associated with newly developed or acquired
operations, market disruptions and the potential effects of the
COVID-19 pandemic on the local and national economic environment,
on our customers and on our operations as well as any changes to
federal, state and local government laws, regulations and orders in
connection with the pandemic. Ottawa Bancorp, Inc. undertakes no
obligation to release revisions to these forward-looking statements
publicly to reflect events or circumstances after the date hereof
or to reflect the occurrence of unforeseen events, except as
required under applicable law.
Contact:
Craig M. Hepner
President and Chief Executive Officer
(815) 366-5436
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