Sound Federal Bancorp, Inc. Stock Repurchase Program Announced
June 11 2004 - 12:54PM
PR Newswire (US)
Sound Federal Bancorp, Inc. Stock Repurchase Program Announced
WHITE PLAINS, N.Y., June 11 /PRNewswire-FirstCall/ -- Sound Federal
Bancorp, Inc. (NASDAQ:SFFS) (the "Company"), the holding company
for Sound Federal Savings (the "Bank"), announced today that it is
commencing a stock repurchase program to acquire up to 658,844
shares of the Company's Common Stock, which represents
approximately 5% of the Company's common shares outstanding. The
timing of the repurchases will depend on certain factors, including
but not limited to, market conditions and prices, the Company's
liquidity requirements and alternative uses of capital. The Company
recently completed the acquisition of 637,332 shares of its common
stock pursuant to a repurchase program that was announced on March
12, 2004. At March 31, 2004, the Company reported total assets of
$890.5 million, deposits of $708.3 million and total stockholders'
equity of $137.1 million. The Bank is a federally-chartered stock
savings bank offering traditional financial services and products
through its branches in New York in Mamaroneck, Harrison, Rye
Brook, Peekskill, Yorktown, New Rochelle, Somers and Cortlandt in
Westchester County and New City in Rockland County, and in
Connecticut in Greenwich, Stamford and Brookfield. DATASOURCE:
Sound Federal Bancorp, Inc. CONTACT: Anthony J. Fabiano, Senior
Vice President, Chief Financial Officer and Corporate Secretary of
Sound Federal Bancorp, Inc., +1-914-761-3636 Web site:
http://www.soundfed.com/
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