KOSCIUSKO, Miss., April 21 /PRNewswire-FirstCall/ -- First M&F Corp. announced today that on April 12, 2006 the Board of Directors approved the issuance of a 2-for-1 stock split. The split will reflect a record date of May 1, 2006. Payment date will be May 15, 2006.
Prior to the stock split, First M&F had 4,498,363 shares outstanding. The 2-for-1 split will double the outstanding shares to 8,996,726.
"We feel that a stock split will ensure that our shares are accessible to the investing public and will improve the liquidity of the shares," said Hugh S. Potts, Jr., Chairman and CEO. "This action is an endorsement of our recent performance and our confidence in further growth prospects for the Company."
First M&F Corp., the parent of M&F Bank, is committed to proceed with its mission of making the Mid-South better by exceeding expectations everyday in 27 communities in Mississippi, Tennessee and Alabama.
Caution Concerning Forward-Looking Statements
This document includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to changes in economic, business, competitive, market and regulatory factors. More detailed information about those factors is contained in First M&F Corporation's filings with the Securities and Exchange Commission.
