AJS Bancorp, Inc. Stock Repurchase Program.Business Editors MIDLOTHIAN, Ill.--(BUSINESS WIRE)--Jan. 22, 2003 AJS AJS American Journal of Sociology AJS American Judicature Society AJS American Journal of Surgery AJS Association for Jewish Studies AJS Americans for Job Security AJS Administration of Justice Studies AJS America-Japan Society AJS AJ Stevens Bancorp, Inc., the holding company for A.J. Smith Federal Savings Bank Noun 1. federal savings bank - a federally chartered savings bank FSB savings bank - a thrift institution in the northeastern United States; since deregulation in the 1980s they offer services competitive with many commercial banks , announced today that its Board of Directors has authorized the Company to commence a stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program to acquire up to 120,000 shares of the Company's Common Stock, which represents approximately 5% of the outstanding Common Stock. Thomas R. Butkus, Chief Executive Officer of the Company, stated that the Board of Directors has authorized the repurchase program, which is expected to be completed within six months. Mr. Butkus, stated that the Board of Directors considers the Common Stock to be an attractive investment, particularly in view of the current price at which the Common Stock is trading relative to the Company's earnings per share and book value per share and market and economic factors generally, as well as other factors. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Mr. Butkus, the repurchases generally would be effected through open market purchases, although he did not rule out the possibility of unsolicited negotiated transactions or other types of repurchases. At December 31, 2002, the Company reported total assets of $222.6 million and stockholders' equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. of $33.6 million. |
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