Node Created Date Displays Latest Updated Date

Using the Panels In-Place Editor, I selected to use the Node created date to display the date entered in the Authored Information. When viewing the page, it is displaying the latest updated date, not the created date. I deleted this and tried the Node last updated date and it displayed the latest updated date. After this, I tried using the Node (tokens) Date created and this displayed the correct date. However, I do not have the ability to format the date, like I do with using Node created date. :-(

Am I using the Node created date erroneously? Is there something else I should use for this? Or, is this a bug?

Thanks!