1st Resource Bank

From Our Customers

 “Our Loan Officer made the complex project of building a new equine clinic, manageable and achievable. He met with all 5 partners and took the time to answer everyone's questions and address individual needs. It's great to have a solid, local bank on your side for projects, big and small.”

Dr. John Lee
Unionville Equine Associates 

Cost Basis

First Resource Bank has declared five 5% stock dividends since inception which affect the cost basis of your common stock investment.

The dates of each stock dividend are listed below:

Record Date Payable Date
April 1, 2013 April 15, 2013
May 4, 2012 May 11, 2012
December 19, 2007 January 2, 2008
February 1, 2007 February 15, 2007
January 30, 2006 February 13, 2006

For each stock dividend that occurred when an investor owned First Resource Bank common stock, multiply the shares held before the dividend by 1.05 to obtain the new number of shares held. Divide the original cost of the shares by the new share number to calculate the investor's adjusted basis.

EXAMPLE: If an investor owned 100 shares at a cost of $10 per share, a 5% stock dividend would increase the number of shares held to 105. The total cost of the shares is unchanged at $1,000 and the new cost basis is $1,000/105 shares, or $9.52. This process would continue for each stock dividend that occurred while the stock was held.

The IRS forms below further explain the April 2013 and May 2012 5% stock dividend. This IRS reporting requirement was implemented in 2011, therefore it is unavailable for the stock dividends paid prior to that year.

May 2012  - IRS Form 8937 (PDF)
April 2013 - IRS Form 8937 (PDF)