UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below): | ||
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Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 7.01 |
| Regulation FD Disclosure |
On August 19, 2020, Prudential Bancorp, Inc. (the “Company”) issued a press release announcing the declaration by the Board of Directors on August 19, 2020, of a quarterly cash dividend of $0.07 per share of common stock. The dividend is payable on September 22, 2020 to shareholders of record as of September 8, 2020. For additional information, reference is made to the Company’s press release, dated August 19, 2020, which is included as Exhibit 99.1 hereto and is incorporated herein by reference thereto. The press release attached hereto and the information provided in this Item 7.01 are being furnished to the Securities and Exchange Commission and shall not be deemed to be “filed” for any purpose except as shall be expressly set forth by specific reference to such filing in other filings of the Company into which it may be incorporated.
Item | 9.01 | Financial Statements and Exhibits
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| (a) | Not applicable. |
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| (d) | The following exhibits are included with this Report: |
Exhibit No. | Description |
99.1 | Press release announcing declaration of a quarterly cash dividend dated August 19, 2020 |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| PRUDENTIAL BANCORP, INC. | ||
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| By: | /s/Jack E. Rothkopf | |
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| Name: | Jack E. Rothkopf | |
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| Title: | Senior Vice President, Chief Financial Officer and Treasurer | |
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Date: August 19, 2020 |
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Exhibit 99.1
FOR RELEASE: IMMEDIATELY
PRUDENTIAL BANCORP, INC. ANNOUNCES
DECLARATION OF QUARTERLY CASH DIVIDEND
Philadelphia, Pennsylvania (August 19, 2020) -- Prudential Bancorp, Inc. (the “Company”) (Nasdaq: PBIP) announced that its Board of Directors, at a meeting held today, declared a quarterly cash dividend of $0.07 per share on the common stock of the Company, payable on September 22, 2020 to the shareholders of record at the close of business on September 8, 2020.
Prudential Bancorp, Inc. is the holding company for Prudential Bank, a Pennsylvania-chartered, FDIC-insured savings bank originally organized in 1886 and headquartered in Philadelphia, Pennsylvania. Prudential conducts business from its headquarters and main office in Philadelphia, Pennsylvania as well as nine additional full-service financial centers, seven of which are in Philadelphia, one in Drexel Hill, Delaware County, and one in Huntingdon Valley, Montgomery County, Pennsylvania. At June 30, 2020, the Company had assets totaling $1.2 billion, liabilities totaling $1.1 billion and shareholders’ equity totaling $128.2 million.
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, expectations or predictions of future financial or business performance, conditions relating to the Company. These forward-looking statements include statements with respect to the Company’s beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions, that are subject to significant risks and uncertainties, and are subject to change based on various factors (some of which are beyond the Company’s control). The words “may,” “could,” “should,” “would,” “will,” “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan” and similar expressions are intended to identify forward-looking statements.
In addition to factors previously disclosed in the reports filed by the Company with the Securities and Exchange Commission (“SEC”) and those identified elsewhere in this press release, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: the strength of the United States economy in general and the strength of the local economies in which the Company conducts its operations; general economic conditions; the scope and duration of the COVID-19 pandemic; the effects of the COVID-19 pandemic, including on the Company’s credit quality and operations, its customers, counterparties, employees and third-party service providers as well as its impact on general economic conditions, both locally and nationally, including further increases in unemployment rates and continued restrictions on the operations of businesses in the markets in which the Company operates; legislative and regulatory changes including actions taken by governmental authorities in response to the COVID-19 pandemic including but not limited to the enactment and implementation of the CARES Act; monetary and fiscal policies of the federal government, especially in response to the COVID-19 pandemic; changes in tax policies, rates and regulations of federal, state and local tax authorities including the effects of the Tax Reform Act; changes in interest rates, deposit flows, the cost of funds, demand for loan products and the demand for financial services, in each case as may be affected by the COVID-19 pandemic, competition, changes in the quality or composition of the Company’s loan, investment and mortgage-backed securities portfolios; geographic concentration of the Company’s business; fluctuations in real estate values, especially in light of the COVID-19 pandemic; the adequacy of loan loss reserves; the risk that goodwill and intangibles recorded in the Company’s financial statements will become impaired; changes in accounting principles, policies or guidelines and other economic, competitive, governmental and technological factors affecting the Company’s operations, markets, products, services and fees.
Investors are encouraged to access the Company's periodic reports filed with the Securities and Exchange Commission for financial and business information regarding the Company at www.psbanker.com under the Investor Relations menu. We undertake no obligation to update any forward-looking statements.
Contact:
Jack E. Rothkopf, Senior Vice President, Treasurer, Chief Financial Officer, Prudential Bancorp, Inc. and Prudential Bank, 215-755-1500.
Document and Entity Information |
Aug. 19, 2020 |
|---|---|
| Details | |
| Registrant CIK | 0001578776 |
| Registrant Name | Prudential Bancorp, Inc. |
| SEC Form | 8-K |
| Period End date | Aug. 19, 2020 |
| Trading Symbol | PBIP |
| Trading Exchange | NASDAQ |
| Tax Identification Number (TIN) | 46-2935427 |
| Emerging Growth Company | false |
| Entity Incorporation, State or Country Code | PA |
| Entity File Number | 000-55084 |
| Entity Address, Address Line One | 1834 West Oregon Avenue |
| Entity Address, City or Town | Philadelphia |
| Entity Address, State or Province | PA |
| Entity Address, Postal Zip Code | 19145 |
| City Area Code | 215 |
| Local Phone Number | 755-1500 |
| Written Communications | false |
| Soliciting Material | false |
| Pre-commencement Tender Offer | false |
| Pre-commencement Issuer Tender Offer | false |
| Title of 12(b) Security | Common Stock |
| Amendment Flag | false |
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