Benjamin Franklin Bancorp Announces Receipt of Regulatory Approval for 5% Stock Repurchase
December 14 2007 - 4:32PM
Business Wire
Benjamin Franklin Bancorp, Inc. (the "Company" or "Benjamin
Franklin") (Nasdaq: BFBC), the bank holding company for Benjamin
Franklin Bank (the �Bank�), announced today that it has received
the approval of the Massachusetts Division of Banks to repurchase
up to 394,200 shares of the Company�s common stock or approximately
5% of the outstanding common shares. Any purchases under this plan
will be made through open market transactions or negotiated block
transactions, at the discretion of management. The amount and exact
timing of any purchases will depend on market conditions and other
factors, at the discretion of management, and there is no assurance
that the Company will repurchase shares during any period.
Repurchases under the Company�s previous 5% share repurchase plan,
authorized in November, 2006, were completed in October, 2007.
Certain statements herein constitute �forward-looking statements�
and actual results may differ from those contemplated by these
statements. Forward-looking statements can be identified by the
fact that they do not relate strictly to historical or current
facts. They often include words like �believe,� �expect,�
�anticipate,� �estimate,� and �intend� or future or conditional
verbs such as �will,� �would,� �should,� �could� or �may.� Certain
factors that could cause actual results to differ materially from
expected results include changes in the interest rate environment,
changes in general economic conditions, legislative and regulatory
changes that adversely affect the businesses in which Benjamin
Franklin Bancorp is engaged and changes in the securities market.
The Company disclaims any intent or obligation to update any
forward-looking statements, whether in response to new information,
future events or otherwise.
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