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Pennsylvania-based Mifflinburg Bancorp wants to increase authorized shares, possibly eyeing stock split

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Pennsylvania-based Mifflinburg Bancorp wants to increase authorized shares, possibly eyeing stock split

The boardof Mifflinburg BancorpInc. is seeking shareholder approval to increase the number of itsauthorized common shares to 5 million from 2.16 million, as disclosed in aproxy statement.

Accordingto the recent filing, the board does not have any plan to issue additionalcommon shares. But with the 5 million authorized shares, the Mifflinburg,Pa.-based company will have sufficient shares to split its currentlyoutstanding stock on a 2-for-1 basis twice, and still have more than 1 millionshares remaining for other purposes.

Shareholderswill vote on the proposal and other matters at their annual meeting to be heldApril 20.