1895 Bancorp Of Wisconsin, Inc. Announces Adoption Of A Second Repurchase Program; Under The New Repurchase Program, Which Is Subject To Regulatory Non-objection, The Company May Repurchase Up To 10% Of Its Current Outstanding Shares
1895 Bancorp of Wisconsin, Inc. (the "Company") (NASDAQ Capital Market: BCOW), the holding company for PyraMax Bank, FSB, announced that it has adopted its second stock repurchase program to be implemented upon completion of its existing stock repurchase program. Under the new repurchase program, which is subject to regulatory non-objection, the Company may repurchase up to 10% of its current outstanding shares.
Following receipt of regulatory non-objection, repurchases are expected to commence upon completion of the existing stock repurchase program, which has 9,945 shares remaining to be repurchased. Shares may be repurchased in open market or private transactions, through block trades, or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission. The repurchase program has no expiration date.
Repurchases will be made at management's discretion at prices management considers to be attractive and in the best interests of the Company and its stockholders, subject to the availability of stock, general market conditions, the trading price of the stock, alternative uses for capital, and the Company's financial performance. Open market purchases will be subject to the limitations set forth in Rule 10b-18 of the Securities and Exchange Commission and other applicable legal requirements.
The timing and amount of share repurchases under this authorization may be suspended, terminated or modified by the Company 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. These factors may also affect the timing and amount of share repurchases. The Company is not obligated to repurchase any particular number of shares or any shares in any specific time period.