Key Developments: 1st Constitution Bancorp (FCCY.O)

FCCY.O on Consolidated Issue listed on NASDAQ Global Market

10.25USD
29 Jul 2014
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Latest Key Developments (Source: Significant Developments)

1st Constitution Bancorp announces appointment of chief financial officer - Form 8-K
Tuesday, 1 Apr 2014 03:30pm EDT 

1st Constitution Bancorp:Appoints Stephen J. Gilhooly as the company’s senior vice president, chief financial officer and treasurer.Joseph M. Reardon, the company’s senior vice president and treasurer, served as the company’s principal financial officer prior to Gilhooly’s appointment.In connection with Gilhooly’s appointment, Reardon relinquished his positions at the company but will continue as senior vice president of 1st Constitution Bank, a subsidiary of the company.  Full Article

1st Constitution Bancorp Acquires Rumson-Fair Haven Bank And Trust Company
Thursday, 15 Aug 2013 09:20am EDT 

1ST Constitution Bancorp, parent company of 1ST Constitution Bank, and Rumson-Fair Haven Bank and Trust Company announced that the companies have entered into a definitive agreement and plan of merger, pursuant to which Rumson will be merged with and into 1ST Constitution Bank, with 1ST Constitution as the surviving bank holding company. Under the terms of the Merger Agreement, shares of Rumson common stock will be exchanged in the aggregate for 60% cash and 40% 1ST Constitution common stock. Each shareholder of Rumson will elect to receive 0.7772 of a share of 1ST Constitution common stock, or $7.50 per share in cash (or a combination of stock and cash) for each common share of Rumson common stock. Based on the closing price of 1ST Constitution common stock on August 13, 2013, the transaction is valued at approximately $24.3 million. The closing is anticipated to occur during the first quarter of 2014, subject to certain conditions, and is expected to be accretive to earnings per share of 1ST Constitution in 2014.  Full Article

1st Constitution Bancorp Announces Auditor Change-Form 8-K
Tuesday, 2 Jul 2013 04:15pm EDT 

1st Constitution Bancorp reported in its Form 8-K that on June 28, 2013, 1st Constitution Bancorp (Company), after review and recommendation of the Audit Committee of the Company’s Board of Directors, appointed BDO USA LLP (BDO) as the Company’s new independent registered public accounting firm for and with respect to the year ending December 31, 2013, and dismissed ParenteBeard LLC (ParenteBeard) from that role. The Company’s principal audit personnel at ParenteBeard resigned from ParenteBeard and joined BDO.  Full Article

1st Constitution Bancorp Declares 5% Stock Dividend
Monday, 24 Dec 2012 09:15am EST 

1st Constitution Bancorp announced that its Board of Directors has declared a 5% stock dividend to shareholders of record as of the close of business on January 14, 2013, payable January 31, 2013.  Full Article

1st Constitution Bancorp Announces Rights Offering To Existing Shareholders And Filing Of Registration Statement
Friday, 17 Aug 2012 09:15am EDT 

1st Constitution Bancorp announced that on August 16, 2012, it filed a registration statement on Form S-3 with the Securities and Exchange Commission (the "SEC") for a rights offering to its existing shareholders. The rights offering will be made through the distribution of non-transferable subscription rights to purchase shares of the Company's common stock at a subscription price at a ratio to be determined. The Company intends to distribute the rights and commence the offering promptly after its registration statement is declared effective by the SEC. Assuming the rights offering is fully subscribed, the Company estimates that it will receive gross proceeds in the range of $4.0 million to $7.0 million, less the expenses of the rights offering. The Company intends to use the proceeds for general corporate purposes, and to continue to build the Company's franchise. The Company previously redeemed all of its preferred stock issued to the United States Treasury under the TARP program. The rights offering includes an oversubscription privilege which permits each rights holder that exercises its rights in full to purchase additional shares of common stock that remain unsubscribed at the expiration of the offering. This oversubscription privilege is subject to the availability and allocation of shares among holders exercising this oversubscription privilege.  Full Article

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