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| 8-K - 8-K - Westbury Bancorp, Inc. | form8-krepurchaseprogram.htm |
PRESS RELEASE
Westbury Bancorp, Inc.
200 South Main Street
West Bend, Wisconsin 53095
For Additional Information Contact:
Raymond F. Lipman, President and Chief Executive Officer
(262) 334-5563
WESTBURY BANCORP, INC.
ANNOUNCES STOCK REPURCHASE PROGRAM
West Bend, Wisconsin, May 12, 2014 (PR Newswire). Westbury Bancorp, Inc. (NASDAQ-CM: WBB) announced that on May 12, 2014 its Board of Directors authorized a stock repurchase program pursuant to which the Company intends to purchase up to 250,000 its issued and outstanding shares of common stock, which represents approximately 4.9% of the Company’s issued and outstanding shares. The repurchase program will commence on or about May 14, 2014. The timing of the purchases will depend on certain factors, including but not limited to market conditions and prices, available funds and alternative uses of capital. The stock repurchase program may be carried out through open-market purchases, block trades, negotiated private transactions and pursuant to a trading plan that will be adopted in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934. Any repurchased shares will be treated as authorized but unissued by the Company.
Raymond F. Lipman, President and Chief Executive Officer of the Company, stated “We are pleased to announce the repurchase program. We believe our common stock is an attractive value at current trading prices and we believe the deployment of some of the Company’s capital into this investment is warranted.”
About Westbury Bancorp, Inc.
Westbury Bancorp, Inc. is the holding company for Westbury Bank. Westbury Bank is a federally chartered savings bank with approximately $550 million in asset headquartered in West Bend, Wisconsin. It is the largest bank and only publicly traded bank headquartered in Washington County, Wisconsin. Westbury Bank serves communities in Washington and Waukesha counties through its ten full service offices, providing deposit and loan services to individuals, professionals and businesses throughout its markets. Additional information about Westbury Bank is available on the internet at www.westburybankwi.com.
Information Regarding Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the federal securities laws. Statements in this release that are not strictly historical are forward-looking and are based upon current expectations that may differ materially from actual results. These forward-looking
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statements, identified by words such as “will,” “expected,” “believe,” and “prospects,” involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made herein. These risks and uncertainties involve general economic trends and changes in interest rates, increased competition, changes in consumer demand for financial services, the possibility of unforeseen events affecting the industry generally, the uncertainties associated with newly developed or acquired operations, and market disruptions. Westbury Bancorp, Inc. undertakes no obligation to release revisions to these forward-looking statements publicly to reflect events or circumstances after the date hereof or to reflect the occurrence of unforeseen events, except as required to be reported under the rules and regulations of the Securities and Exchange Commission.
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