ESSA Bancorp, Inc. Announces Stock Repurchase Program Completion, Authorization for Third Stock Repurchase Program
07 October 2010 - 7:20AM
Business Wire
ESSA Bancorp, Inc. (the “Company”) (NASDAQ Global MarketSM
“ESSA”), the holding company for ESSA Bank & Trust (the
“Bank”), announced the completion of its second stock repurchase
program, purchasing 1,499,100 shares at a weighted average cost of
$12.36.
ESSA Bancorp, Inc. also announced today that its Board of
Directors has authorized a third stock repurchase program to
purchase up to an additional 5% of its outstanding shares. The
Company will repurchase the shares from time to time for cash in
open market transactions or in privately negotiated transactions in
accordance with applicable federal securities laws.
“We remain committed to capital management strategies that we
feel will enhance stockholder value. Therefore, we are very pleased
to announce this third stock repurchase program by our company,”
said Gary S. Olson, ESSA Bancorp’s President and CEO.
ESSA Bank & Trust, a wholly-owned subsidiary of ESSA
Bancorp, Inc., has total assets of over $1 billion and is the
leading service-oriented financial institution headquartered in the
greater Pocono, Pennsylvania region. Corporate headquarters are
located in downtown Stroudsburg, Pennsylvania, and the Bank has 17
community offices throughout the Greater Pocono and Lehigh Valley
areas in Pennsylvania. In addition to being one of the region’s
largest mortgage lenders, ESSA Bank & Trust offers a full range
of retail, investment, trust, and commercial financial services.
ESSA Bancorp, Inc. stock trades on The NASDAQ Global MarketSM under
the symbol “ESSA.”
Forward-Looking Statements
Certain statements contained herein are “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
Such forward-looking statements may be identified by reference to a
future period or periods, or by the use of forward-looking
terminology, such as “may,” “will,” “believe,” “expect,”
“estimate,” “anticipate,” “continue,” or similar terms or
variations on those terms, or the negative of those terms.
Forward-looking statements are subject to numerous risks and
uncertainties, including, but not limited to, those related to the
economic environment, particularly in the market areas in which the
Company operates, competitive products and pricing, fiscal and
monetary policies of the U.S. Government, changes in government
regulations affecting financial institutions, including regulatory
fees and capital requirements, changes in prevailing interest
rates, acquisitions and the integration of acquired businesses,
credit risk management, asset-liability management, the financial
and securities markets and the availability of and costs associated
with sources of liquidity.
The Company wishes to caution readers not to place undue
reliance on any such forward-looking statements, which speak only
as of the date made. The Company wishes to advise readers that the
factors listed above could affect the Company's financial
performance and could cause the Company's actual results for future
periods to differ materially from any opinions or statements
expressed with respect to future periods in any current statements.
The Company does not undertake and specifically declines any
obligation to publicly release the result of any revisions, which
may be made to any forward-looking statements to reflect events or
circumstances after the date of such statements or to reflect the
occurrence of anticipated or unanticipated events.
ESSA Bancorp (NASDAQ:ESSA)
Historical Stock Chart
From Jun 2024 to Jul 2024
ESSA Bancorp (NASDAQ:ESSA)
Historical Stock Chart
From Jul 2023 to Jul 2024