Logansport Financial Corp. (the “
”) announced today that it has completed its stock repurchase program with a final purchase of 9,000 shares for an aggregate price of $203,850. This purchase, along with the previous December purchase of 30,750 shares concludes the stock repurchase program.
Logansport Financial Corp. purchased an aggregate of 120,700 shares of Common Stock on the open market during the Stock Repurchase Program. These purchases were made subject to market conditions in the open market or block transactions. These purchases account for 15.36% of the total outstanding shares at the time of the initiation of the Stock Repurchase Program.
According to Arden L. Cramer, President of the Corporation, the Board believes that the repurchase of this common stock will have the effect of enhancing the book value per share and the potential for growth in earnings per share of the Corporation’s remaining outstanding shares.
The foregoing discussion contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties. A number of factors could cause results to differ materially from the objectives and estimates expressed in such forward-looking statements. These factors include, but are not limited to, anticipated market prices and prices actually paid by the Corporation for its shares pursuant to the stock repurchase program announced herein. These factors should be considered in evaluating any forward-looking statements, and undue reliance should not be placed on such statements. The Corporation does not undertake and specifically disclaims any obligation to update any forward-looking statements to reflect occurrence of anticipated or unanticipated events or circumstances after the date of such statements.
Logansport Financial Corp. (OTCBB: LOGN), an Indiana corporation, is the holding company for Logansport Savings Bank, FSB, a federal savings bank located in Logansport, Indiana.