QUINCY, Illinois, March 15, 2021 – First Bankers Trustshares, Inc. (OTCBB: FBTT), (“First Bankers”, “we”, “us”, “our”), the Quincy-based holding company of First Bankers Trust Company, N.A., announced today that its board of directors authorized the repurchase of up to $4,000,000.00 dollars of First Bankers’ common stock, par value $1.00 per share, from time to time until December 31, 2021.
Allen Shafer, CEO of First Bankers, stated, “We are pleased that the Company’s historical financial performance and well-capitalized status give us the potential to return value to our shareholders through this share repurchase plan. We are pleased to announce this stock repurchase program, which reflects the Board’s confidence in our future and our commitment to manage strategically First Bankers’ capital in order to enhance long-term shareholder value.”
We may repurchase shares from time to time in the open market, in privately negotiated stock purchases or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission and applicable federal securities laws. The share repurchase plan does not obligate us to acquire a specific dollar amount or number of shares and it may be extended, modified, or discontinued at any time without notice.
About First Bankers Trustshares, Inc.
First Bankers Trustshares, Inc. is a bank holding company owning First Bankers Trust Company, N.A. The Company was incorporated on August 25, 1988, and is headquartered in Quincy, Ill. First Bankers Trustshares, Inc. is a publicly held company whose common stock is traded over-the-counter under the symbol FBTT. For more information, visit http://fbti.firstbankers.com.
Special Note Concerning Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements reflect the current views of First Bankers’ management with respect to, among other things, future events and First Bankers’ financial performance. These statements are often, but not always, made through the use of words or phrases such as “may,” “should,” “could,” “predict,” “potential,” “believe,” “will likely result,” “expect,” “continue,” “will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,” “project,” “forecast,” “goal,” “target,” “would” and “outlook,” or the negative variations of those words or other comparable words of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about First Bankers’ industry, management’s beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond First Bankers’ control. Accordingly, First Bankers cautions you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although First Bankers believes that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from First Bankers’ expectations include, without limitation, the following: the ongoing COVID-19 pandemic and measures to prevent its spread, which include wide disruptions to business activity that may impact the financial strength of our borrowers; competition from other financial institutions and bank holding companies; the effects of and changes in trade, monetary and fiscal policies and laws, including interest rate policies of the Federal Reserve Board; changes in the demand for loans; fluctuations in value of collateral and loan reserves; inflation, interest rate, market and monetary fluctuations; changes in consumer spending, borrowing and savings habits; and acquisitions and integration of acquired businesses, and similar variables. The foregoing list of factors is not exhaustive.
Any forward-looking statement speaks only as of the date on which it is made, and First Bankers does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. New risks and uncertainties arise from time to time, and it is not possible for us to predict those events or how they may affect us. In addition, First Bankers cannot assess the impact of each factor on First Bankers’ business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. All forward-looking statements, expressed or implied, included in this press release are expressly qualified in their entirety by this cautionary statement. This 42953347.2 cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that First Bankers or persons acting on First Bankers’ behalf may issue.
Allen W. Shafer, First Bankers Trustshares, Inc.
Kyle Beckman, First Bankers Trust Company, N.A.