United Community Financial Corp. Announces Additional Share Authorization for Repurchase Program
December 29 2014 - 4:10PM
Business Wire
United Community Financial Corp. (NASDAQ: UCFC), holding company
of The Home Savings and Loan Company of Youngstown, Ohio, announced
that the UCFC Board of Directors has authorized the repurchase of
up to another 2,500,000 UCFC common shares. On May 19, 2014, UCFC
previously announced that the Board of Directors had reinstituted
its share repurchase program and authorized the repurchase of a
maximum of 1,477,804 UCFC common shares. Since that time, the
Company has repurchased 1,363,500 UCFC common shares at an average
price of $4.60 per share.
Gary M. Small, President and Chief Executive Officer of UCFC and
Home Savings stated, “Our focus is to manage our capital so that we
maximize shareholder value and returns, and our commitment to
maintaining this program is an important part of those strategies.
In addition, we are excited about the successful growth strategies
we implemented during 2014, and we believe these various
initiatives when combined with our capital management strategies
will meaningfully enhance shareholder value.”
As a wholly-owned subsidiary of United Community Financial
Corp., Home Savings operates 32 full-service banking offices and
nine loan production offices located throughout Ohio and western
Pennsylvania. Additional information on UCFC and Home Savings may
be found at www.ucfconline.com.
When used in this press release, the words or phrases
“believes,” “will likely result,” “are expected to,” “will
continue,” “is anticipated,” “estimate,” “project”, “will have” or
similar expressions are intended to identify “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. Such statements are subject to certain risks
and uncertainties, including changes in economic conditions in the
Company’s market area, changes in policies by regulatory agencies,
fluctuations in interest rates, demand for loans in the Company’s
market area, and competition that could cause actual results to
differ materially from historical earnings and those presently
anticipated or projected. The Company cautions readers not to place
undue reliance on any such forward-looking statements, which speak
only as of the date made. The Company advises readers that the
factors listed above could affect the Company’s financial
performance and could cause the Company’s actual results for future
periods to differ materially from any opinions or statements
expressed with respect to future periods in any current
statements.
The Company does not undertake, and specifically disclaims any
obligation, to release publicly the result of any revisions that
may be made to any forward-looking statements to reflect events or
circumstances after the date of such statements or to reflect the
occurrence of anticipated or unanticipated events.
Media:Home SavingsColleen
Scott, Vice President of Marketing,
330-742-0638cscott@homesavings.comorInvestor:United
Community Financial Corp.Gary M. Small, President and CEO,
330-742-9823
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