Columbia Bancorp Announces Re-Activation of Stock Repurchase Program
June 04 2004 - 1:59PM
PR Newswire (US)
Columbia Bancorp Announces Re-Activation of Stock Repurchase
Program COLUMBIA, Md., June 4 /PRNewswire-FirstCall/ -- Columbia
Bancorp (NASDAQ:CBMD), parent company of The Columbia Bank
(collectively, the "Company"), announced today that it will
reactivate its stock repurchase program, which was approved by the
Board of Directors in October 2000. The stock repurchase program
provides for the repurchase of up to 500,000 shares of Common Stock
in the open market or in privately negotiated transactions. Shares
repurchased under the program to-date total 114,646 shares. At this
time, the Company intends to repurchase approximately 20,000
shares. The timing and amounts of these and future repurchases will
depend on many factors, including the Company's capital structure,
the market price of the Common Stock and overall market conditions.
ABOUT COLUMBIA BANCORP Columbia Bancorp, headquartered in Columbia,
Maryland, is a bank holding company and parent company of The
Columbia Bank, a commercial bank. The Columbia Bank currently
operates twenty-four banking offices in the Baltimore/Washington
Corridor and provides a full range of financial services to
consumers and businesses. Columbia Bancorp's Common Stock is traded
on the National Market tier of The Nasdaq Stock Market(SM) under
the symbol "CBMD." FORWARD-LOOKING STATEMENTS Certain statements
contained in this press release are forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. The forward-looking statements are based on Columbia
Bancorp's current intent, belief and expectations. These statements
are not guarantees of future performance and are subject to certain
risks and uncertainties that are difficult to predict. Actual
results may differ materially from these forward-looking statements
because of interest rate fluctuations, a deterioration of economic
conditions in the Baltimore/Washington metropolitan area, a
downturn in the real estate market, losses from impaired loans, an
increase in non-performing assets, potential exposure to
environmental laws, federal and state bank laws and regulations,
the highly competitive nature of the banking industry, a loss of
key personnel, changes in accounting standards and other risks
described in this filing and the Company's other filings with the
Securities and Exchange Commission. Existing and prospective
investors are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of today's date.
Columbia Bancorp undertakes no obligation to update or revise the
information contained in this filing whether as a result of new
information, future events or circumstances or otherwise. Past
results of operations may not be indicative of future results.
DATASOURCE: Columbia Bancorp CONTACT: John A. Scaldara, Jr.,
President and COO of Columbia Bancorp, +1-410-423-8012 Web site:
http://www.columbank.com/ Company News On-Call:
http://www.prnewswire.com/comp/127921.html
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