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Brian W. Jones, the President and CEO of the ELMA: “The Board believes that, in these challenging times, it is prudent to retain all earnings within the Bank to provide capital to protect against any adverse impacts of the coronavirus outbreak on the Bank.”
Elmer Bancorp (OTCPK:ELMA) will not be paying a quarterly dividend to stockholders on May 1, 2020.
The Board will evaluate whether to declare dividends in future.