Ben Franklin Financial pays stockholders prior to dissolution
ARLINGTON HEIGHTS -- Ben Franklin Financial Inc., the former holding company for Ben Franklin Bank of Illinois, Monday announced its board of directors has approved a distribution of $10.35 per share to its stockholders as it nears the end of the company's dissolution.
This distribution will be made in accordance with the company's previously announced voluntary plan of dissolution and liquidation that was approved by stockholders at a special meeting in February.
Ben Franklin Financial is continuing to wind up its operations and resolve all outstanding liabilities and creditor claims. After paying the stock distribution, any remaining funds will be used for the payment of final dissolution expenses, the settlement of any final claims and expenses and the establishment of any necessary reserve amounts in connection with the dissolution, the company said.