Standard Financial announces 240K share repurchase program
Standard AVB Financial announced that the company's board of directors has authorized the repurchase of up to 240,000 shares, or approximately 5%, of the Company's outstanding common stock. The stock repurchase program may be carried out through open market purchases, block trades, negotiated private transactions or pursuant to a trading plan adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission rules. The stock will be repurchased on an ongoing basis and will be subject to the availability of stock, general market conditions, the trading price of the stock, alternative uses for capital and the Company's financial performance. Timothy K. Zimmerman, CEO, noted, "We believe that putting a repurchase plan in place is a prudent action, especially considering the recent volatility in the markets. A repurchase plan is an additional tool that is part of the overall capital management plan of the Company. We strive to manage the Company's capital in a prudent and efficient manner."