As previously announced, the Company filed a Form 15 with the Securities and Exchange Commission to deregister the Company’s common stock under section 12(g) of the Securities Exchange Act of 1934, and intends to take further steps in 2013 to suspend its Exchange Act reporting obligations and exit the SEC reporting system. The Company expects the Section 12(g) deregistration and future suspension of reporting obligations will provide substantial cost savings.Based on improved credit quality and earnings, the Company’s Board of Directors declared a cash dividend of $0.05 per share on October 9, 2012 payable November 2, 2012 to shareholders of record as of October 19, 2012. Anticipated cost savings from the Section 12(g) deregistration provided further justification for the action.
Pinnacle Bankshares Corporation Announces Third Quarter 2012 Earnings
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