Moorestown, NJ, May 31, 2017 --(PR.com
)-- Cornerstone Financial Corporation (OTC “CFIC” and “CFICD”), the holding company for Cornerstone Bank, announced that effective today, the company finalized a 10 - 1 Reverse Stock Split. As a result, the Company’s stockholders will receive one new share of the Company’s common stock for every ten shares they previously held. The Reverse Stock Split will be reflected on the opening of trading on May 31, 2017, the new trading symbol will be “CFICD” for a period of 20 days at which time the “D” will then be removed and the trading symbol will revert back to “CFIC.” This change is simply to differentiate the post-split market value from the pre-split market value.
Cornerstone Financial Corporation is a New Jersey based bank holding company headquartered in Mount Laurel, New Jersey. Cornerstone Bank is a New Jersey state chartered commercial bank headquartered in Moorestown, New Jersey. The Bank commenced operations on October 4, 1999, and conducts business from its main ofﬁce in Moorestown New Jersey and from six additional branch ofﬁces located in Medford, Burlington, Cherry Hill, Voorhees, Mount Laurel and Woodbury.
Contact: Gene Dorazio, President, 856-439-0300