BALTIMORE,
April 19, 2013 /PRNewswire/ -- On
April 19, 2013, BCSB Bancorp, Inc.
(the "Company") (NASDAQ: BCSB), the holding company for Baltimore
County Savings Bank, repurchased from United States Department of
the Treasury ("Treasury") a warrant to purchase 183,465 shares of
the Company's common stock at an exercise price of $8.83 per share (the "Warrant"). The Warrant was
issued to Treasury in March 2008 in
connection with the Company's participation in the TARP Capital
Purchase Program. The Company paid an aggregate purchase price of
$1,442,000 for the repurchase of the
Warrant, which has been cancelled. The repurchase price was based
on the fair market value of the Warrant as agreed upon by the
Company and Treasury.
President and Chief Executive Officer Joseph J. Bouffard commented, "With the
redemption of the Warrant, we have now completely exited the TARP
Capital Purchase Program, having already repurchased the Preferred
Stock in January 2011. We are
especially pleased that we were able to redeem both the Preferred
Stock and the Warrant without having to raise additional capital,
which would have been dilutive to our shareholders. All of the
funds used to complete both of these transactions were derived from
internal sources."
Founded in 1955, Baltimore County Savings Bank operates under
its holding company, BCSB Bancorp, Inc. and provides regional
community banking solutions through 16 locations across the
Baltimore metropolitan area. For
more information, visit www.baltcosavings.com.
This press release contains statements that are
forward-looking, as that term is defined by the Private Securities
Litigation Reform Act of 1995 or the Securities and Exchange
Commission in its rules, regulations and releases. The Company
intends that such forward-looking statements be subject to the safe
harbors created thereby. All forward-looking statements are
based on current expectations regarding important risk factors,
including but not limited to real estate values, market conditions,
the impact of interest rates on financing, local and national
economic factors and the matters described in "Item 1A. Risk
Factors" in the Company's Annual Report on Form 10-K for the year
ended September 30, 2012.
Accordingly, actual results may differ from those expressed in the
forward-looking statements, and the making of such statements
should not be regarded as a representation by the Company or any
other person that results expressed herein will be
achieved.
SOURCE BCSB Bancorp, Inc.