WEST BEND, Wis., Feb. 19, 2015 /PRNewswire/ -- Westbury
Bancorp, Inc. (NASDAQ-CM: WBB) announced that on February 18, 2015 its Board of Directors
authorized a stock repurchase program pursuant to which the Company
intends to purchase up to 492,695 of its issued and outstanding
shares, representing approximately 10% of its issued and
outstanding shares of common stock. The repurchase program
will commence on or about February 20,
2015. The program is the third repurchase program approved
by the Board of Directors. In connection with the
authorization of this stock repurchase program, the Board of
Directors of the Company terminated the Company's existing stock
repurchase program, which had authorized the Company to purchase up
to 250,000 shares of its issued and outstanding common
stock. The Company had previously purchased a total of 174,657
shares of its common stock at a weighted average price of
$15.80 per share under the existing
stock repurchase program, and a total of 424,657 shares under the
two previous programs at a weighted average price of $15.40 per share. The timing of the
purchases 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 purchases, 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.
About Westbury Bancorp, Inc.
Westbury Bancorp, Inc. is the holding company for Westbury Bank. Westbury
Bank is a federally chartered savings bank with
approximately $600 million in assets
headquartered in West Bend,
Wisconsin. Westbury Bank serves communities in Washington and Waukesha counties through its nine full
service offices, providing deposit and loan services to
individuals, professionals and businesses throughout its markets.
Additional information about Westbury
Bank is available on the internet at
www.westburybankwi.com.
Information Regarding Forward-Looking
Statements
This news release contains forward-looking statements within the
meaning of the federal securities laws. Statements in this
release that are not strictly historical are forward-looking and
are based upon current expectations that may differ materially from
actual results. These forward-looking statements, identified
by words such as "will," "expected," "believe," and "prospects,"
involve risks and uncertainties that could cause actual results to
differ materially from those anticipated by the statements made
herein. These risks and uncertainties involve general economic
trends and changes in interest rates, increased competition,
changes in consumer demand for financial services, the possibility
of unforeseen events affecting the industry generally, the
uncertainties associated with newly developed or acquired
operations, and market disruptions. Westbury Bancorp, Inc.
undertakes no obligation to release revisions to these
forward-looking statements publicly to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unforeseen events, except as required to be reported under the
rules and regulations of the Securities and Exchange
Commission.
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SOURCE Westbury Bancorp, Inc.