GAINESVILLE, Ga. - The board of First National Bancorp has declared a 3-for-2 stock split, to be distributed as a dividend on Nov. 16.
Shareholders of record on Oct. 20 will receive one additional share of the company's $1 par value common stock for each two shares owned.
First National Bancorp, which has $1.8 billion in assets, currently has 9,655,991 outstanding shares in the hands of about 4,800 shareholders.
A new lawsuit seeking class-action status alleges that FirstBank Puerto Rico knowingly facilitated Jeffrey Epstein's sex trafficking operation by failing to enforce basic anti-money laundering and Know Your Customer rules.
Pinnacle Financial Partners' headquarters is moving to a new 25-story office tower in Midtown Atlanta; New Jersey-based Provident Bank appoints Adriano Duarte to succeed Thomas Lyons as chief financial officer; Binance will shut down services for customers in France, Italy, Spain and Poland after the exchange withdrew its MiCA licence application in Greece; and more in this week's banking news roundup.
The bank is part of a trend of financial institutions trying to streamline a complicated industry that paper has dominated for years.
Speaking at the New York Federal Reserve's Innovation Conference on Friday, New York Department of Financial Services acting Superintendent Kaitlin Asrow said the regulator was interested in maintaining long-standing consumer protections as AI adoption increases.
Banks face conceptual, operational and other hurdles that threaten further adoption of real-time payments.
Five Star Bank near Sacramento plans to expand in Lodi, an agricultural hub in the Golden State's Central Valley region. The lender's growth push comes as the number of farm banks has been shrinking.
