Cornerstone Bancorp Implements Special Dividend and Share Buyback Initiative for 2025

Cornerstone Bancorp Unveils Special Dividend and Repurchase Program

Cornerstone Bancorp, Inc. (OTC Pink: CNBP), the holding company for Cornerstone National Bank & Trust Company, has made significant announcements that are set to impact its shareholders positively. The company's Board of Directors declared a noteworthy special dividend of $2.50 per share for shareholders of record as of January 31, 2025. The payout will be processed on February 5, 2025.

Gerald F. Fitzgerald, Jr., the Chairman of Cornerstone Bancorp, commented on this decision, noting that the special dividend was declared after careful consideration of the bank's capital requirements and the prevailing conditions in the banking sector. This dividend payout, accounting for 25% of the unaudited earnings from 2024, demonstrates the company's commitment to returning value to its shareholders during a period of strong performance.

In addition to the dividend announcement, Cornerstone Bancorp has authorized a share repurchase program that permits the company to buy back up to 30,000 shares of its common stock throughout 2025. These repurchases will be contingent on market conditions and carried out through various means, including open market purchases and private transactions. The program is designed with flexibility in mind and does not have an expiration date, allowing the company to adapt to changing market dynamics.

The timing and quantity of share repurchases will be influenced by different factors, including the company's trading windows, liquidity position, and general market trends. Moreover, this program allows Cornerstone to pause, modify, or completely discontinue purchases if necessary, providing additional strategic agility.

Cornerstone Bancorp operates with a clear mission: to fulfill the commercial banking and investment needs of families and family-owned businesses. Founded in 2000, the bank has been focused on building strong, personal relationships with its clients in the increasingly consolidated Chicago market. This focus on customer relations, paired with substantial investments in technology and human resources, has allowed Cornerstone to thrive as larger banks shift towards more institutional approaches.

Across various domains, Cornerstone has established itself as a leader in commercial lending. Their services encompass equipment loans, real estate financing, construction loans, and operational credit lines, tailored to meet the diverse needs of businesses. Beyond commercial credit, Cornerstone also offers a suite of wealth management services, including investment management, trust and custody services, retirement planning, as well as estate and guardianship administration for individuals and families.

Headquartered in Palatine, Illinois, Cornerstone operates additional offices in Crystal Lake, Deer Park, Naperville, and Schaumburg. The firm prides itself on creating an uncommon relationship experience for its clientele and aims to continue building on its success in the competitive financial landscape. The recent announcements signal Cornerstone's ongoing dedication to enhancing shareholder value while maintaining its commitment to enriching the financial wellbeing of its clients.