WEST BEND, Wis., May 21, 2015 /PRNewswire/ -- Westbury Bancorp,
Inc. (NASDAQ-CM: WBB) announced that on May
20, 2015 its Board of Directors authorized a stock
repurchase program pursuant to which the Company intends to
purchase up to 200,000 of its issued and outstanding shares,
representing approximately 4.5% of its issued and outstanding
shares of common stock. The repurchase program will commence
on or about May 22, 2015. The
program is the fourth 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 announced
that the Company's existing stock repurchase program, which had
authorized the Company to purchase up to 492,695 shares of its
issued and outstanding common stock, had been completed in full at
a weighted average price of $17.52
per share. The Company has purchased a total of 917,352
shares under the three previous programs at a weighted average
price of $16.54 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.
![Westbury Bancorp, Inc. Westbury Bancorp, Inc.](http://photos.prnewswire.com/prnvar/20150130/172587LOGO)
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.