Territorial Bancorp Inc. Completes Twelfth Repurchase Program
13 September 2023 - 6:30AM
Territorial Bancorp Inc., (NASDAQ: TBNK) (the “Company”),
headquartered in Honolulu, Hawaii, the holding company parent of
Territorial Savings Bank, announces that the Company has completed
its twelfth stock repurchase program. Under this repurchase
program, the Company was authorized to repurchase up to $5,000,000
of the Company’s outstanding shares. The Company repurchased
293,474 shares of its common stock at an average price of $16.98
per share. Overall, the Company has repurchased 4,417,953 shares of
common stock or 36.11% of the shares issued in its initial public
offering in 2009. The Company’s Board of Directors regularly
reviews capital management options, including stock repurchase
programs, and any future decision to adopt one or more additional
stock repurchase programs would be subject to general market
conditions, the trading price of the stock, alternative uses for
capital, and the Company’s financial performance.
Certain statements herein constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements may be
identified by words such as “believes,” “will,” “expects,”
“project,” “may,” “could,” “would,” “developments,” “strategic,”
“launching,” “opportunities,” “anticipates,” “estimates,”
“intends,” “plans,” “targets” and similar expressions. These
statements are based upon the current beliefs and expectations of
the Company’s management and are subject to significant risks and
uncertainties. Actual results may differ materially from those set
forth in the forward-looking statements as a result of numerous
factors. Factors that could cause such differences to exist
include, but are not limited to, general economic conditions,
changes in interest rates, regulatory considerations, and
competition and the risk factors described in the Company’s annual
report on Form 10-K for the year ended December 31, 2022, as filed
with the Securities and Exchange Commission, as updated through
filings with the Securities and Exchange Commission and other
releases issued by the Company from time to time. Should one or
more of these risks materialize or should underlying beliefs or
assumptions prove incorrect, the Company’s actual results could
differ materially from those discussed. Readers are cautioned not
to place undue reliance on these forward-looking statements, which
speak only as of the date of this release.
Territorial Savings Bank is a Hawaii
state-chartered savings bank that was originally chartered in 1921
by the Territory of Hawaii. Territorial Savings Bank conducts
business from its headquarters in Honolulu, Hawaii and has 29
branch offices in the State of Hawaii.
Contact: Walter Ida (808)
946-1400
Territorial Bancorp (NASDAQ:TBNK)
Historical Stock Chart
From Apr 2024 to May 2024
Territorial Bancorp (NASDAQ:TBNK)
Historical Stock Chart
From May 2023 to May 2024