1895 Bancorp of Wisconsin, Inc. Announces Adoption of Repurchase Program
GREENFIELD, Wis., February 6, 2020 (Newswire.com) - 1895 Bancorp of Wisconsin, Inc. (“the “Company”) (NASDAQ Capital Market: BCOW), the holding company for PyraMax Bank, FSB, announced that it has adopted a stock repurchase program for up to approximately 5% of its outstanding common stock (excluding shares held by 1895 Bancorp of Wisconsin, MHC), or 109,725 shares of its common stock. This is the Company’s first stock repurchase program since completing its mutual holding company reorganization and related stock offering in January 2019, and is subject to regulatory non-objection.
Repurchases may be made no sooner than the termination of the Company’s regular quarterly trading blackout after the Company publicly releases its results of operations for the period ended December 31, 2019, and consistent with the Company’s trading policies.
Shares may be repurchased in open market or private transactions, through block trades, or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission. The repurchase program has no expiration date.
Repurchases will be made at management’s discretion at prices management considers to be attractive and in the best interests of the Company and its stockholders, subject to the availability of stock, general market conditions, the trading price of the stock, alternative uses for capital, and the Company’s financial performance. Open market purchases will be subject to the limitations set forth in Rule 10b-18 of the Securities and Exchange Commission and other applicable legal requirements.
The timing and amount of share repurchases under this authorization may be suspended, terminated or modified by the Company at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases. The Company is not obligated to repurchase any particular number of shares or any shares in any specific time period.
Source: PyraMax Bank
