FOR IMMEDIATE RELEASE
DELHI BANK CORP.
ANNOUNCES STOCK REPURCHASE PROGRAM
Delhi, New York — June 11, 2009. Delhi Bank Corp. (Pink Sheets: DWNX)
today announced that on June 11, 2009 the Company’s board of directors has authorized
the continuation of the Company’s stock repurchase program and has approved the
repurchase of up to an additional 5% of the Company’s outstanding common stock, or
approximately 46,690 shares. Repurchases, which will be conducted through open
market purchases or privately negotiated transactions, will be made from time to time
depending on market conditions and other factors. Repurchased shares will be held in
treasury and will be available for the Company’s employee stock ownership plan and its
dividend reinvestment and optional cash purchase plan.
The Company previously extended its stock repurchase program in July 2005.
Since that time, the Company has repurchased approximately 30,111 shares of its
common stock, or approximately 5% of the Company’s outstanding common stock.
Delhi Bank Corp. is a New York Chartered bank holding company headquartered
in Delhi, New York. As of March 31, 2009, Delhi Bank Corp. had assets of $186.6
million and stockholders’ equity of $18.6 million.
CONTACT: Delhi Bank Corp.
Robert W. Armstrong, President and Chief Executive Officer
(607) 746-0740