Business
Westbury Bancorp, Inc. Announces Sixth Stock Repurchase Program
Westbury Bancorp, Inc. Announces Sixth Stock Repurchase Program.
About this update from Westbury Bancorp, Inc.
[{"type":"text","content":"\n\n WEST BEND, Wis., Nov. 17, 2017 (GLOBE NEWSWIRE) -- Westbury Bancorp, Inc. (OTCQX:WBBW) announced that on November 15, 2017, its Board of Directors authorized a stock repurchase program pursuant to which the Company intends to purchase up to 388,037 of its issued and outstanding shares, representing approximately 10% of its issued and outstanding shares of common stock as of the date hereof.  The repurchase program will commence on or about November 17, 2017.  The program is the sixth 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 was approved in February 2016 and had authorized the Company to purchase up to 422,906 shares of its issued and outstanding common stock, had been terminated.  The Company had purchased 389,780 shares under the existing plan.  The Company has purchased a total of 1,507,132 shares under the five previous programs.   The timing of the purchases under the newly adopted program will depend on certain factors, including, but not limited to, market conditions and prices, available funds and alternative uses of capital.  The new stock repurchase program may be carried out in accordance with Securities and Exchange Commission Rule 10b-18 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.\n About Westbury Bancorp, Inc. Westbury Bancorp, Inc. is the holding company for Westbury Bank.  Westbury Bank is a federally chartered savings bank with approximately $780 million in assets headquartered in West Bend, Wisconsin.  Westbury Bank serves communities in Washington, Waukesha, Dane and Outagamie counties through its eight full service offices and two loan production offices, providing deposit and loan services to individuals, professionals and businesses throughout its markets.  Additional information about Westbury Bank is available at www.westburybankwi.com. Information Regarding Forward-Looking Statements Information contained in...