WAUWATOSA, Wis., March 6, 2015 /PRNewswire/ -- Waterstone
Financial, Inc. (the "Company") announced today that its Board of
Directors has authorized a stock repurchase program pursuant to
which the Company intends to purchase up to 1,721,170 of its issued
and outstanding shares of common stock, which represents
approximately 5.0% of the Company's issued and outstanding shares.
The repurchase program is expected to commence immediately. The
timing of the purchases will depend on certain factors, including
but not limited to, market conditions and prices, available funds
and alternative uses of capital. The stock repurchase program may
be carried out through open-market purchases, block trades,
negotiated private transactions and pursuant to a trading plan that
will be adopted in accordance with Rule 10b5-1 under the Securities
Exchange Act of 1934. Any repurchased shares will be held by
the Company as authorized but unissued shares.
The repurchase program may be suspended, terminated or modified
at any time for any reason, including market conditions, the cost
of repurchasing shares, the availability of alternative investment
opportunities, liquidity, and other factors deemed appropriate. The
repurchase program does not obligate the Company to purchase any
particular number of shares.
About Waterstone Financial, Inc.
Waterstone Financial, Inc. (NASDAQ: WSBF) is a single-bank,
holding company headquartered in Wauwatosa, WI. With $1.8 billion in assets at December 31, 2014, Waterstone has nine community
bank branches in the metropolitan Milwaukee market, a loan production office in
Minneapolis, Minnesota, and
mortgage banking offices in sixteen states around the
country. Additional financial detail related to WaterStone
Bank, SSB can be found on the FDIC web site (www.fdic.gov) under
the "Industry Analysis" tab.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Such forward-looking
statements include, without limitation, statements regarding
expected financial and operating activities and results that are
preceded by, followed by, or that include words such as "may,"
"expects," "anticipates," "estimates" or "believes." Such
statements are subject to important factors that could cause actual
results to differ materially from those anticipated by the
forward-looking statements. These factors include (i)
exposure to the deterioration in the commercial and residential
real estate markets which could result in increased charge-offs and
increases in the allowance for loan losses, (ii) various
other factors, including changes in economic conditions affecting
borrowers, new information regarding outstanding loans and
identification of additional problem loans, which could require an
increase in the allowance for loan losses, (iii) Waterstone's
ability to maintain required levels of capital and other current
and future regulatory requirements, (iv) the impact of recent and
future legislative initiatives on the financial markets, and (v)
those factors referenced in Item 1A. Risk Factors in Waterstone's
most recent Annual Report on Form 10-K and as may be
described from time to time in Waterstone's subsequent SEC filings,
which factors are incorporated herein by reference. Readers
are cautioned not to place undue reliance on these forward-looking
statements, which reflect only Waterstone's belief as of the date
of this press release.
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SOURCE Waterstone Financial, Inc.