Standard AVB Financial Corp. Announces a Stock Repurchase Program
29 Janvier 2020 - 3:20PM
Standard AVB Financial Corp. (the “Company”) - (NASDAQ: STND), the
holding company for Standard Bank, PaSB, today announced that its
Board of Directors approved a new stock repurchase program. The new
stock repurchase program is to be implemented upon the completion
of the Company’s current stock repurchase program. There are
101,211 shares that remained available for repurchased under the
Company’s current stock repurchase program. Pursuant to the new
stock repurchase program, the Company may repurchase up to an
additional 230,000 shares of its common stock, or approximately 5%
of its current outstanding shares.
Timothy K. Zimmerman, CEO, noted, “The continued
repurchase of our common stock represents our long-term commitment
to enhancing shareholder value. We intend to repurchase our common
stock to the extent we believe that our stock price makes
repurchases an attractive use of
capital.”
Standard AVB Financial Corp., with total assets
of $991.5 million at September 30, 2019, is the parent company of
Standard Bank, PaSB, a Pennsylvania chartered savings bank that
operates 17 offices serving individuals and small to mid-sized
businesses in Allegheny, Westmoreland and Bedford Counties, in
Pennsylvania and Allegany County in Maryland. Standard Bank is a
member of the FDIC and an Equal Housing Lender.
This news release may contain a number of
forward-looking statements, as that term is defined in the Private
Securities Litigation Reform Act of 1995.
Such forward-looking statements are subject to risks and
uncertainties which could cause actual results to differ materially
from those currently anticipated due to a number of factors.
The Company undertakes no obligation to update these
forward-looking statements to reflect events or circumstances that
occur after the date on which such statements were made.
CONTACTS: |
|
|
Timothy K. Zimmerman |
Andrew W. Hasley |
Susan A. Parente |
Chief Executive Officer |
President |
Executive Vice President & Chief |
412.856.0363 |
412.781.0320 |
Financial Officer |
|
|
412.856.0363 |
Standard AVB Financial (NASDAQ:STND)
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