Oak Hill Financial Announces Share Repurchase Program
26 Mai 2005 - 11:05PM
PR Newswire (US)
Oak Hill Financial Announces Share Repurchase Program JACKSON,
Ohio, May 26 /PRNewswire-FirstCall/ -- Oak Hill Financial, Inc.
(NASDAQ:OAKF) today announced that its board of directors has
authorized the repurchase of up to 290,000 shares, or approximately
5.0 percent, of its outstanding common stock, from time to time as
market and business conditions permit. The company's board of
directors authorized the buyback program in light of current market
conditions and the capital and financial position of the company.
The current authorization replaces the company's previous
repurchase plan, which was announced on February 26, 2004. Under
the buyback program, the company's shares will be repurchased from
time to time through open market or privately negotiated
transactions. The repurchased shares will become treasury shares
that will be used for general corporate purposes, including
mitigating the potentially dilutive effect of the company's stock
compensation plan. Oak Hill Financial is a financial holding
company headquartered in Jackson, Ohio. Its subsidiary, Oak Hill
Banks, operates 33 full-service banking offices and three bank loan
production offices in 15 counties across southern and central Ohio.
A second subsidiary, Oak Hill Financial Insurance Agency, provides
group health plans and other insurance services to over 350
business and public-sector organizations throughout the same
region. The company also holds 49% of Oak Hill Title Agency, LLC,
which provides title services for commercial and residential real
estate transactions. Currently, Oak Hill Financial has
approximately $1.2 billion in assets and 5.8 million shares
outstanding. DATASOURCE: Oak Hill Financial, Inc. CONTACT: David G.
Ratz, Executive Vice President of Oak Hill Financial, Inc.,
+1-740-286-3283
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