2024
The Board of Directors of Eastern Michigan Financial Corporation is pleased to announce the appointment of Patricia Manley as a director of Eastern Michigan Financial Corporation and its wholly owned subsidiary, Eastern Michigan Bank.
Ms. Manley is the Director of Accounting Services for McBride – Manley & Company, P.C., a certified public accounting firm in Marine City. She has over 40 years of experience in tax and accounting consulting, governmental auditing, and management advisory services for clients in various industries, and is also a member of the American Institute of Certified Public Accountants and the Michigan Institute of Certified Public Accountants.
Patti is very active in the local community, currently serving as Chair of the Board of Trustees and the Strategic Priorities Committee for the Community
Foundation of St. Clair County and as a member of the Finance Committee. She is also a past Board of Trustees treasurer and Finance Committee chair
for the United Way of St. Clair County and a past Board of Trustees vice-chair and Finance Committee chair for St. John’s Providence East Region.
Over the course of her career, Patti has received a number of awards, including recognition by the National Association of Career Women as Career
Woman of the Year, by St. John-Providence River District Hospital as Community Leader of the Year, by the United Way of St. Clair County as Volunteer of the Year, and by the State of Michigan as a Small Business Advocate in Accounting.
“We are so pleased to welcome Patti Manley to our board,” stated Eastern Michigan Bank President and Chief Executive Officer Will Oldford. “Her
experience as a CPA and enthusiasm for community service are excellent fits with our culture as an organization. Her longstanding professional presence in the Marine City area is a welcome addition given our recent branch expansion into that market.”
Ms. Manley fills the seat left vacant by the untimely death of Donna Niester in October. The directors, officers, and staff of Eastern Michigan
Bank all welcome Ms. Manley to the organization and look forward to her contributions.
11.21.2024 -- At their November 19, 2024, meeting, the Board of Directors of Eastern Michigan Financial Corporation declared a quarterly cash dividend of $0.40 per share to be paid on December 31, 2024, to shareholders of record as of December 24, 2024.
Eastern Michigan Financial Corporation trades on the Over-The-Counter Bulletin Board under the symbol EFIN. Any questions regarding the information contained in this release should be directed to Senior Vice President, Chief Financial Officer Errin Levitt by phone at 810.398.5135 or by email.
For quarterly and annual financial data, please visit our Investor Information page.
8.21.2024 -- At their August 20, 2024, meeting, the Board of Directors of Eastern Michigan Financial Corporation declared a quarterly cash dividend of $0.40 per share to be paid on September 27, 2024, to shareholders of record as of September 20, 2024.
Eastern Michigan Financial Corporation trades on the Over-The-Counter Bulletin Board under the symbol EFIN. Any questions regarding the information contained in this release should be directed to Senior Vice President, Chief Financial Officer Errin Levitt by phone at 810.398.5135 or by email.
For quarterly and annual financial data, please visit our Investor Information page.
5.22.2024 -- At their May 21, 2024, meeting, the Board of Directors of Eastern Michigan Financial Corporation declared a quarterly cash dividend of $0.40 per share to be paid on June 28, 2024, to shareholders of record as of June 21, 2024.
Eastern Michigan Financial Corporation trades on the Over-The-Counter Bulletin Board under the symbol EFIN. Any questions regarding the information contained in this release should be directed to Senior Vice President, Chief Financial Officer Errin Levitt by phone at 810.398.5135 or by email.
For quarterly and annual financial data, please visit our Investor Information page.
2.21.2024 -- At their February 20, 2024, meeting, the Board of Directors of Eastern Michigan Financial Corporation declared a one-time special cash dividend of $0.50 per share to be paid on March 15, 2024, to shareholders of record as of March 8, 2024.
Eastern Michigan Financial Corporation trades on the Over-The-Counter Bulletin Board under the symbol EFIN. Any questions regarding the information contained in this release should be directed to Senior Vice President, Chief Financial Officer Errin Levitt by phone at 810.398.5135 or by email.
For quarterly and annual financial data, please visit our Investor Information page.
2.21.2024 -- At their February 20, 2024, meeting, the Board of Directors of Eastern Michigan Financial Corporation declared a quarterly cash dividend of $0.40 per share to be paid on March 29, 2024, to shareholders of record as of March 22, 2023.
Eastern Michigan Financial Corporation trades on the Over-The-Counter Bulletin Board under the symbol EFIN. Any questions regarding the information contained in this release should be directed to Senior Vice President, Chief Financial Officer Errin Levitt by phone at 810.398.5135 or by email.
For quarterly and annual financial data, please visit our Investor Information page.
2.21.2024 -- Eastern Michigan Financial Corporation (OTC Pink: EFIN) has announced that its Board of Directors has approved a program for the repurchase of shares of its common stock, commencing March 1, 2024, and ending at the close of market on February 28, 2025. This program allows the Company to repurchase up to $500,000 of its common stock, inclusive of brokerage commissions and fees, which is approximately 1.39% of its outstanding common stock. As of January 31, 2024, the Company had 1,254,208 shares of its common stock outstanding. The program does not obligate the Company to acquire a specific dollar amount or the number of shares and may be modified, suspended, or discontinued at any time.
Repurchases under the program may be made from time to time at the Company’s discretion in open market transactions, in privately negotiated transactions, and pursuant to any trading plan that may be adopted by the Company’s management. The timing and the actual number of shares repurchased will depend on a variety of factors including price, corporate and regulatory requirements, and market conditions. Repurchases will be funded by existing cash and cash equivalents.
The Company has completed the repurchase program announced in August 2022. The Company purchased 19,885 shares at an average cost of $25.04 per share.
Eastern Michigan Financial Corporation is a bank holding company with approximately $540 million in assets and the sole owner of Eastern Michigan Bank. Originally chartered as the State Bank of Croswell in 1895, Eastern Michigan Bank currently operates nine banking offices and a loan operations center, providing a full range of commercial and consumer banking services primarily in the Sanilac, St. Clair, and Huron County, Michigan communities of Croswell, Deckerville, Fort Gratiot, Lakeport, Lexington, Marysville, Ruth, Port Huron, and Sandusky. Eastern Michigan Bank offers a broad range of deposit services, including checking accounts, savings accounts, and time deposits of various types as well as loans for commercial and consumer purposes. Clients include individuals, businesses, schools, associations, churches, non-profit organizations, and government entities.
Any questions regarding the information contained in this release should be directed to Senior Vice President, Chief Financial Officer Errin Levitt by phone at 810.398.5135 or by email.
Statements related to the Company’s intention to implement the share repurchase program constitute "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 and otherwise within the meaning of court opinions construing such forward-looking statements. The Company claims all safe harbor and other legal protections provided to it by law for all of its forward-looking statements. Forward-looking statements involve known and unknown risks, estimates, uncertainties, and other factors, which could cause actual financial or operating results, performances or achievements expressed or implied by such forward-looking statements not to occur or be realized, and are based on currently available information and on our current expectations and projections about future events. These risks and uncertainties include, but are not necessarily limited to, the effect that the share repurchase program may have on the price and/or trading volume of shares of our common stock, our ability to amend, suspend or terminate the share repurchase program, including the maximum designated number of shares authorized to be repurchased, at any time without prior notice and as permitted or required by applicable law or regulation, and that due to the historically thin trading volume in our common stock, no assurance can be given as to the maximum length of time that the repurchase program may be kept in place. Undue reliance should not be placed on such forward-looking statements as they speak only as of the date hereof, and we undertake no obligation to update these statements to reflect subsequent events or circumstances except as may be required by law.