Cortland Bancorp operates as the bank holding company for The Cortland Savings and Banking Company that provides commercial and retail banking services in Northeastern Ohio and Western Pennsylvania. It offers deposit products, including demand and time deposits, savings, money market, and checking accounts. The company also provides commercial loans, such as commercial, financial, real estate construction and development, and commercial real estate loans, as well as small business lending and trade financing; and consumer loans, including residential real estate, home equity, and installment loans. In addition, it offers brokerage services; investment products comprises estate planning, qualified retirement plans, mutual funds, annuities, life insurance, fixed income and equity securities, equity research and recommendations, and asset management services under the Cortland Private Wealth Management brand; night depository, automated teller, and other services, as well as safe deposit boxes; and Internet and mobile banking options. As of February 1, 2021, the company operated through 13 full-service offices in Trumbull, Mahoning, Portage, Summit, and Cuyahoga in Northeastern Ohio, as well as a financial service center in Fairlawn, Ohio. Cortland Bancorp was founded in 1892 and is headquartered in Cortland, Ohio.
IPO Year: n/a
Exchange: NASDAQ
Website: cortlandbank.com
4 - CORTLAND BANCORP INC (0000774569) (Issuer)
4 - CORTLAND BANCORP INC (0000774569) (Issuer)
4 - CORTLAND BANCORP INC (0000774569) (Issuer)
4 - CORTLAND BANCORP INC (0000774569) (Issuer)
4 - CORTLAND BANCORP INC (0000774569) (Issuer)
4 - CORTLAND BANCORP INC (0000774569) (Issuer)
4 - CORTLAND BANCORP INC (0000774569) (Issuer)
4 - CORTLAND BANCORP INC (0000774569) (Issuer)
4 - CORTLAND BANCORP INC (0000774569) (Issuer)
4 - CORTLAND BANCORP INC (0000774569) (Issuer)
Farmers National Banc Corp. ("Farmers" or the "Company") (NASDAQ:FMNB), the holding company for The Farmers National Bank of Canfield ("Farmers National Bank"), announced today that it completed the merger of Cortland Bancorp ("Cortland") (NASDAQ:CLDB), the holding company for The Cortland Savings and Banking Company ("Cortland Bank"), with and into FMNB Merger Subsidiary IV, LLC, a newly-formed, wholly-owned subsidiary of Farmers (the "Merger"). Following the Merger, Cortland Bank was merged with and into Farmers National Bank. As a result of the Merger, shares of Cortland are no longer traded on The NASDAQ Capital Market. This press release features multimedia. View the full release here:
CORTLAND, Ohio, Oct. 20, 2021 (GLOBE NEWSWIRE) -- Cortland Bancorp (NASDAQ:CLDB) ("Cortland") would like to thank its shareholders for their support of the proposed merger with Farmers National Banc Corp. ("Farmers") and reminds those shareholders that have not yet voted to vote without delay "FOR" the merger and the other proposals in Cortland's proxy statement for the special meeting of shareholders to be held on October 26, 2021 at 11:00 a.m., local time, at Squaw Creek Country Club, 761 Youngstown Kingsville Road S., Vienna, Ohio 44473. Cortland also reminds shareholders of the election deadline of 5:00 p.m., Eastern Standard Time, October 25, 2021 (the "Election Deadline") for shareh
Farmers National Banc Corp. ("Farmers") (NASDAQ:FMNB), the holding company for The Farmers National Bank of Canfield, and Cortland Bancorp ("Cortland") (NASDAQ:CLDB), the holding company for The Cortland Savings and Banking Company, today announced an election deadline of 5:00 p.m., Eastern Standard Time, October 25, 2021 (the "Election Deadline") for shareholders of Cortland to elect the form of consideration they wish to receive for their shares of Cortland common stock in connection with the proposed merger of Cortland with and into FMNB Merger Subsidiary IV, LLC, a newly-formed, wholly-owned subsidiary of Farmers ("Merger Sub"), pursuant to the Agreement and Plan of Merger, dated as of
Net income improves 3% for the quarter; up 44% through six months Announced merger with Farmers National Banc Corp expected to close in fourth quarter 2021 CORTLAND, Ohio, July 27, 2021 (GLOBE NEWSWIRE) -- Cortland Bancorp (NASDAQ:CLDB) announced its second quarter 2021 financial results. Net income for the three months ending June 30, 2021 was $2.0 million, or $0.48 per share, which was 3% higher than the income level of $1.9 million, or $0.47 per share, for the first quarter of 2020. First quarter 2021 net income was $2.8 million, or $0.66 per share. The Company realized a return on average assets ratio of .99% and 1.18% respectively, for the three- month and six-month periods e
CORTLAND, Ohio, July 21, 2021 (GLOBE NEWSWIRE) -- Cortland Bancorp (NASDAQ:CLDB), the holding company for Cortland Savings and Banking Company, today announced that its Board of Directors approved a quarterly cash dividend of $0.15 per share. The dividend will be payable on September 1, 2021, to shareholders of record as of the close of business on August 9, 2021. "In response to our continued solid earnings performance, we are pleased to be able to continue the quarterly cash dividend," said James Gasior, President and Chief Executive Officer. "Cash dividends, along with our share price appreciation, provide an attractive return to our shareholders." At the recent stock price of $26.80 p
CANFIELD, Ohio and CORTLAND, Ohio, June 23, 2021 (GLOBE NEWSWIRE) -- Farmers National Banc Corp. ("Farmers") (NASDAQ:FMNB), the holding company for The Farmers National Bank of Canfield ("Farmers National Bank"), and Cortland Bancorp Inc. ("Cortland") (NASDAQ:CLDB), the holding company for The Cortland Savings and Banking Company, jointly announced today they have entered into an agreement and plan of merger (the "Agreement"). Pursuant to the Agreement, each shareholder of Cortland may elect to receive either $28.00 per share in cash or 1.75 shares of Farmers' common stock, subject to an overall limitation of 75% of the shares being exchanged for Farmers shares and 25% for cash. Based on
CORTLAND, Ohio, May 27, 2021 (GLOBE NEWSWIRE) -- Cortland Bancorp. (NASDAQ:CLDB), the bank holding company of The Cortland Savings and Banking Company, today announced that, for the third straight year, it was again named to American Banker magazine's Top 200 Publicly Traded Community Banks and Thrifts. In its May 2021 issue, American Banker ranked Cortland Bancorp 86th on the list of top performing publicly traded community banks. This continues the Bank's upward growth trajectory after ranking as #105 on last year's list and #134 in 2019. The rankings are based on three-year average return on equity (ROE) as of the end of the previous year. "It is always a great honor to be recognized b
Net income more than doubles year over year with continued progress projected Board authorizes $0.15 per share dividend, a 7% increase over prior quarterly dividend CORTLAND, Ohio, April 27, 2021 (GLOBE NEWSWIRE) -- Cortland Bancorp (NASDAQ:CLDB) announced its first quarter 2021 financial results. Net income for the three months ending March 31, 2021 was $2.8 million, or $0.66 per share, which was twice the income level of $1.4 million, or $0.32 per share, for the first quarter of 2020 and equal to the $2.8 million, or $0.67 per share, for the fourth quarter of 2020. The return on average assets ratio was 1.38% for the Company for this first quarter, while the return on average equity
CORTLAND, Ohio, April 21, 2021 (GLOBE NEWSWIRE) -- Cortland Bancorp (NASDAQ:CLDB), the holding company for Cortland Savings and Banking Company, today announced that its Board of Directors approved a quarterly cash dividend of $0.15 per share. The dividend will be payable on June 1, 2021, to shareholders of record as of the close of business on May 17, 2021. "In response to our continued solid earnings performance, we are pleased to be able increase the quarterly cash dividend by 7%," said James Gasior, President and Chief Executive Officer. "Cash dividends, along with our share price appreciation, provide an attractive return to our shareholders." At the recent stock price of $22.62 per
Net income improves 47% on quarter basis and 13% year over year, despite COVID-19 challenges Board authorizes $0.14 per share dividend, plus $0.05 special dividend, and new share repurchase program CORTLAND, Ohio, Feb. 01, 2021 (GLOBE NEWSWIRE) -- Cortland Bancorp (NASDAQ: CLDB) announced its fourth quarter 2020 financial results. Net income for the three months ending December 31, 2020 was $2.8 million, or $0.67 per share, versus $1.9 million, or $0.44 per share, for the fourth quarter of 2019 and $2.2 million or $0.51 per share for the third quarter of 2020. The return on average assets ratio was 1.40% for the Company for this fourth quarter, while the return
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Net income improves 3% for the quarter; up 44% through six months Announced merger with Farmers National Banc Corp expected to close in fourth quarter 2021 CORTLAND, Ohio, July 27, 2021 (GLOBE NEWSWIRE) -- Cortland Bancorp (NASDAQ:CLDB) announced its second quarter 2021 financial results. Net income for the three months ending June 30, 2021 was $2.0 million, or $0.48 per share, which was 3% higher than the income level of $1.9 million, or $0.47 per share, for the first quarter of 2020. First quarter 2021 net income was $2.8 million, or $0.66 per share. The Company realized a return on average assets ratio of .99% and 1.18% respectively, for the three- month and six-month periods e
CORTLAND, Ohio, July 21, 2021 (GLOBE NEWSWIRE) -- Cortland Bancorp (NASDAQ:CLDB), the holding company for Cortland Savings and Banking Company, today announced that its Board of Directors approved a quarterly cash dividend of $0.15 per share. The dividend will be payable on September 1, 2021, to shareholders of record as of the close of business on August 9, 2021. "In response to our continued solid earnings performance, we are pleased to be able to continue the quarterly cash dividend," said James Gasior, President and Chief Executive Officer. "Cash dividends, along with our share price appreciation, provide an attractive return to our shareholders." At the recent stock price of $26.80 p
CANFIELD, Ohio and CORTLAND, Ohio, June 23, 2021 (GLOBE NEWSWIRE) -- Farmers National Banc Corp. ("Farmers") (NASDAQ:FMNB), the holding company for The Farmers National Bank of Canfield ("Farmers National Bank"), and Cortland Bancorp Inc. ("Cortland") (NASDAQ:CLDB), the holding company for The Cortland Savings and Banking Company, jointly announced today they have entered into an agreement and plan of merger (the "Agreement"). Pursuant to the Agreement, each shareholder of Cortland may elect to receive either $28.00 per share in cash or 1.75 shares of Farmers' common stock, subject to an overall limitation of 75% of the shares being exchanged for Farmers shares and 25% for cash. Based on
Net income more than doubles year over year with continued progress projected Board authorizes $0.15 per share dividend, a 7% increase over prior quarterly dividend CORTLAND, Ohio, April 27, 2021 (GLOBE NEWSWIRE) -- Cortland Bancorp (NASDAQ:CLDB) announced its first quarter 2021 financial results. Net income for the three months ending March 31, 2021 was $2.8 million, or $0.66 per share, which was twice the income level of $1.4 million, or $0.32 per share, for the first quarter of 2020 and equal to the $2.8 million, or $0.67 per share, for the fourth quarter of 2020. The return on average assets ratio was 1.38% for the Company for this first quarter, while the return on average equity
CORTLAND, Ohio, April 21, 2021 (GLOBE NEWSWIRE) -- Cortland Bancorp (NASDAQ:CLDB), the holding company for Cortland Savings and Banking Company, today announced that its Board of Directors approved a quarterly cash dividend of $0.15 per share. The dividend will be payable on June 1, 2021, to shareholders of record as of the close of business on May 17, 2021. "In response to our continued solid earnings performance, we are pleased to be able increase the quarterly cash dividend by 7%," said James Gasior, President and Chief Executive Officer. "Cash dividends, along with our share price appreciation, provide an attractive return to our shareholders." At the recent stock price of $22.62 per
Net income improves 47% on quarter basis and 13% year over year, despite COVID-19 challenges Board authorizes $0.14 per share dividend, plus $0.05 special dividend, and new share repurchase program CORTLAND, Ohio, Feb. 01, 2021 (GLOBE NEWSWIRE) -- Cortland Bancorp (NASDAQ: CLDB) announced its fourth quarter 2020 financial results. Net income for the three months ending December 31, 2020 was $2.8 million, or $0.67 per share, versus $1.9 million, or $0.44 per share, for the fourth quarter of 2019 and $2.2 million or $0.51 per share for the third quarter of 2020. The return on average assets ratio was 1.40% for the Company for this fourth quarter, while the return
CORTLAND, Ohio, Jan. 21, 2021 (GLOBE NEWSWIRE) -- Cortland Bancorp (NASDAQ: CLDB), the holding company for The Cortland Savings and Banking Company, today adopted a new stock repurchase program (“program”). Under the program, the Company is authorized to repurchase up to 200,000 of its 4,223,153 issued and outstanding shares, equating to approximately 4.7%. The repurchase plan approved March 18, 2020 expired on December 31, 2020. At the time the Program expired, the Company had repurchased 146,318 shares from the 300,000 shares authorized for repurchase in 2020. The new program is effective immediately through December 31, 2021 but may be limited or terminated at any time without prior not
CORTLAND, Ohio, Jan. 21, 2021 (GLOBE NEWSWIRE) -- Cortland Bancorp (NASDAQ: CLDB), the holding company for Cortland Savings and Banking Company, today announced that its Board of Directors approved a quarterly cash dividend of $0.14 per share. The dividend will be payable on March 1, 2021, to shareholders of record as of the close of business on February 10, 2021. “In response to our continued solid earnings performance, we are pleased to continue the quarterly cash dividend,” said James Gasior, President and Chief Executive Officer. “Cash dividends, along with our share price appreciation, provide an attractive return to our shareholders.” At the recent stock price of $18.50 per share, t