Heritage NOLA Bancorp Updates Share Consideration Range for Dissolution
News related to:Heritage NOLA Bancorp, Inc · 2 min read
COVINGTON, La., Sept. 14, 2026 /CourierPR/ -- Heritage NOLA Bancorp, Inc., the parent company of Heritage Bank of St. Tammany, has announced an updated range for the per share consideration in the dissolution payment. According to the press release, shareholders are expected to receive between $21.30 and $21.40 in cash for each share of the company's common stock. This payment is set to be made to stockholders of record as of October 1, 2026, following the removal of the company's common stock from the OTCID Basic Market.
The dissolution process, which is expected to take up to two years, is in accordance with the Plan of Liquidation and Dissolution approved by the company's stockholders. The company aims to donate any residual funds, which are expected to be minimal, to one or more charitable organizations after the wind-up is completed.
The per share consideration is subject to variation based on several factors, including the amount of corporate taxation, the company's cash holdings, and dissolution-related costs. The company emphasizes that investors should not assume the ultimate per share consideration will fall within the specified range.
Equiniti Trust Company, LLC, has been appointed as the transfer agent and paying agent for the dissolution distribution. Shareholders holding shares in book entry form at Equiniti will receive checks for their cash distribution, while those holding shares through a broker or other DTC-registered nominee will receive their cash directly into their account, with their shares being cancelled.
Heritage NOLA Bancorp, Inc. is currently in the process of dissolving and winding up its business. The company has not provided a specific removal date for its common stock from the OTCID Basic Market, nor do they intend to notify the market once the removal is effective.
The press release also includes a forward-looking statement, cautioning that factors such as delays in completing the liquidation and dissolution process and the amount of taxes to be paid by the company could impact the final outcome. The company undertakes no obligation to update any forward-looking statements to reflect circumstances or events that occur after the date of the release.