Waterstone Financial, Inc. Announces Share Repurchase Program
May 24 2023 - 4:00PM
Waterstone Financial, Inc. (NASDAQ: WSBF) (the "Company") announced
that on May 24, 2023, its Board of Directors authorized a share
repurchase program pursuant to which the Company intends to
repurchase up to 2,000,000 of its issued and outstanding shares,
representing approximately 9.3% of its issued and
outstanding shares of common stock. The repurchase program
will commence on or about May 26, 2023. This share repurchase
program follows the Board of Directors termination of the previous
repurchase program during which the Company repurchased a total
of 3,500,000 shares of its common stock at a weighted average
price (including the excise tax) of $17.25 per
share. The timing of the repurchases will depend on certain
factors, including but not limited to market conditions and prices,
available funds and alternative uses of capital. The stock
repurchase program may be carried out through open-market
repurchases, block trades, negotiated private transactions and
pursuant to a trading plan that will be adopted in accordance with
Rule 10b5-1 under the Securities Exchange Act of 1934. Any
repurchased shares will be treated as authorized but unissued by
the Company. The repurchase program may be suspended,
terminated or modified at any time and for any reason, including
market conditions, the cost of repurchasing shares, the
availability of alternative investment opportunities, liquidity,
and other factors deemed appropriate. The repurchase program does
not obligate the Company to repurchase any particular number of
shares.
About Waterstone Financial, Inc:
Waterstone Financial, Inc. is the savings and loan
holding company for WaterStone Bank. WaterStone Bank was
established in 1921 and offers a full suite of personal and
business banking products. The Bank has branches in Wauwatosa/State
St, Brookfield, Fox Point/North Shore, Franklin/Hales Corners,
Germantown/Menomonee Falls, Greenfield/Loomis Rd,
Milwaukee/Oklahoma Ave, Oak Creek/27th St, Oak Creek/Howell
Ave, Oconomowoc/Lake Country, Pewaukee, Waukesha, West
Allis/Greenfield Ave, and West Allis/National Ave,
Wisconsin. WaterStone Bank is the parent company to Waterstone
Mortgage, which has the ability to lend in 48 states. For more
information about WaterStone Bank, go to wsbonline.com. Follow
WaterStone Bank on Facebook, Twitter, LinkedIn, YouTube, and
Instagram.
Contact: Mark R. GerkeChief Financial
Officer414-459-4012markgerke@wsbonline.com
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