Territorial Bancorp Inc. Completes Fifth Repurchase Program
February 06 2014 - 5:00PM
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 fifth repurchase program. The Company repurchased 300,000
shares of its common stock at an average price of $22.94 per
share. 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, 2012, 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 federally 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 28 branch offices in the
State of Hawaii.
CONTACT: Walter Ida
(808) 946-1400
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