Hampden Bancorp, Inc. (the “Company”) (NASDAQ - HBNK), which is the holding company for Hampden Bank (the “Bank”), announced today the completion of the Company’s sixth Stock Repurchase Program (the “Program”). The Program was approved by the Company’s Board of Directors on February 7, 2012. A total of 304,280 shares, or approximately 5% of the Company’s then outstanding common shares, were purchased at a total cost to the Company of approximately $4,005,000, or an average of $13.16 per share.
The Company’s Board of Directors authorized a seventh stock repurchase program (the “Stock Repurchase Program”) on August 7, 2012 for the purchase of up to 289,106 shares, or approximately 5%, of the Company’s then outstanding common stock. Any repurchases under the Stock Repurchase Program will be made through open market purchase transactions from time to time. The amount and exact timing of any repurchases will depend on market conditions and other factors, at the discretion of management of the Company, and it is intended that the Stock Repurchase Program will complete all repurchases within twelve months after its commencement. There is no assurance that the Company will repurchase shares during any period.
Established in 1852, Hampden Bank is a full service community bank serving the families and businesses in and around Hampden County. The Bank has ten office locations in Springfield, Agawam, Longmeadow, West Springfield, Wilbraham, Tower Square in downtown Springfield, and Indian Orchard. Hampden Bank offers customers the latest in internet banking, including on-line banking and bill payment services.
Certain statements herein constitute “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of 1995.
These statements are based on the beliefs and expectations of
management, as well as the assumptions made using information currently
available to management. Because these statements reflect the views of
management concerning future events, these statements involve risks,
uncertainties and assumptions. As a result, actual results may differ
from those contemplated by these statements. Forward-looking statements
can be identified by the fact that they do not relate strictly to
historical or current facts. They often include words like “believe”,
“expect”, “anticipate”, “estimate”, and “intend” or future or
conditional verbs such as “will”, “would”, “should”, “could”, or “may.”
Certain factors that could have a material adverse affect on the
operations of the Bank include, but are not limited to, increased
competitive pressure among financial service companies, national and
regional economic conditions, changes in interest rates, changes in
consumer spending, borrowing and savings habits, legislative and
regulatory changes, adverse changes in the securities markets, inability
of key third-party providers to perform their obligations to Hampden
Bank, changes in relevant accounting principles and guidelines and our
ability to successfully implement our branch expansion strategy.
Additionally, other risks and uncertainties are described in the
Company’s Annual Report on Form 10-K filed with the Securities and
Exchange Commission (the “SEC”) which is available through the SEC’s
These risks and uncertainties should be considered in evaluating
forward-looking statements and undue reliance should not be placed on
such statements. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date of
this report. The Company disclaims any intent or obligation to update
any forward-looking statements, whether in response to new information,
future events or otherwise.
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