SOURCE: Centrue Financial Corporation

Centrue Financial Corporation

May 28, 2015 08:00 ET

Centrue Financial Corporation Announces Results of 2015 Annual Meeting

OTTAWA, IL--(Marketwired - May 28, 2015) - At its 2015 annual meeting of stockholders yesterday, Centrue Financial Corporation (the "Company" or "Centrue") (OTCQB: CFCB) (OTC PINK: CFCB), parent company of Centrue Bank:

  • Re-elected Dennis O. Battles, Dennis J. McDonnell and John A. Shinkle, each a current member of the board of directors of Centrue, as Class II directors of Centrue, each to serve a three year term ending in 2018.

  • Approved an amendment to Centrue's certificate of incorporation to complete a reverse split of the Centrue's common stock at a ratio of one share for each outstanding thirty shares. The reverse split will be effective May 28, 2015. As a result of the reverse stock split, the number of outstanding shares of common stock will be reduced from 194,535,799 shares to approximately 6,484,526 shares, subject to adjustment for fractional shares. The reverse stock split will not affect any stockholder's ownership percentage of Centrue's common stock, except to the limited extent that the reverse stock split would result in cashing out fractional shares. After the reverse stock split takes effect, stockholders holding physical share certificates will receive instructions from Computershare, Centrue's exchange agent, regarding the process for exchanging the shares. 

  • Approved an amendment and restatement of the tax benefits preservation plan established in Article XV of Centrue's certificate of incorporation to expand the authority of Centrue's board of directors to amend or waive plan provisions if directed to do so by the Board of Governors of the Federal Reserve System or the applicable Federal Reserve Bank.

  • Adopted the Centrue Financial Corporation 2015 Stock Compensation Plan and reserved 430,000 shares of the Company's common stock (after giving effect to the reverse stock split) for issuance under the plan.

About the Company

Centrue Financial Corporation is a regional financial services company headquartered in Ottawa, Illinois and devotes special attention to personal service. The Company serves a market area which extends from the far western and southern suburbs of the Chicago metropolitan area across Central Illinois down to the metropolitan St. Louis area. 

Further information about the Company is available at its website at http://www.centrue.com.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

This release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934 as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and is including this statement for purposes of these safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations of the Company, are generally identified by the use of words such as "believe," "expect," "intend," "anticipate," "estimate," or "project" or similar expressions. The Company's ability to predict results, or the actual effect of future plans or strategies, is inherently uncertain. Factors which could have a material adverse effect on the operations and future prospects of the Company and the subsidiaries include, but are not limited to, changes in: interest rates; general economic conditions; legislative/regulatory changes; monetary and fiscal policies of the U.S. government, including policies of the U.S. Treasury and the Federal Reserve Board; the quality and composition of the loan or securities portfolios; demand for loan products; deposit flows; competition; demand for financial services in the Company's market areas; the Company's implementation of new technologies; the Company's ability to develop and maintain secure and reliable electronic systems; and accounting principles, policies, and guidelines. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements.

Contact Information

  • Contact:
    Daniel R. Kadolph
    Chief Financial Officer
    Centrue Financial Corporation
    Email Contact
    (815) 431-2838