BCB Bancorp, Inc. (Nasdaq: BCBP) announced today that the Company’s Board of Directors authorized the repurchase of up to approximately 480,000 shares, or 5.0%, of the Company’s outstanding common stock. The stock repurchase program may be carried out through open market purchases, block trades, and in negotiated private transactions. The stock may be repurchased on an ongoing basis and will be subject to a number of variables, including but not necessarily limited to, the availability of stock, general market conditions, the trading price of the stock, alternative uses for capital, and the Company’s financial performance. Any repurchased shares will be held as treasury stock and will be available for general corporate purposes
President and Chief Executive Officer Donald Mindiak stated, “We remain committed to prudently leveraging the Company’s capital. This stock repurchase program is an important part of our overall capital management strategy and is one of the available methods to accomplish this strategy.”
Subsequent to the completion of the business combination transaction with Pamrapo Bancorp, Inc., BCB Community Bank operates fifteen offices, eleven located in Bayonne, two in Hoboken and one each in Jersey City and Monroe Township, New Jersey.
Questions regarding the content of this release should be directed to either Donald Mindiak, President & CEO, or Thomas Coughlin, COO at 201-823-0700.
Forward-looking Statements and Associated Risk Factors
This release, like many written and oral communications presented by BCB Bancorp, Inc., and our authorized officers, may contain certain forward-looking statements regarding our prospective performance and strategies within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and are including this statement for purposes of said safe harbor provisions.