BSB Bancorp, Inc. Announces Stock Repurchase Program.Business Editors BINGHAMTON, N.Y.--(BUSINESS WIRE)--Aug. 7, 2001 BSB BSB Backstreet Boys BSB Bayerische Staatsbibliothek BSB British Superbikes (motorcycle racing series) BSB Bachelor of Science in Business BSB Bandar Seri Begawan (capital of Brunei) Bancorp, Inc. (NASDAQ/NMS: BSBN BSBN Baltic Sea Business Network BSBN Bu Sa Bum Nim ), announced that the Board of Directors of BSB Bancorp, Inc. has authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: BSB Bancorp to repurchase up to 500,000 shares of its common stock, which represents approximately 5% of the Corporation's currently issued and outstanding shares of common stock. Shares may be repurchased from time to time through late December 2001 in open market and unsolicited, negotiated transactions. Repurchases will be subject to availability and prices which are acceptable to the Corporation. Howard W. Sharp, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , stated, "The Board of Directors adopted the repurchase program because it continues to consider BSB Bancorp's stock to be an attractive investment." Mr. Sharp also noted that "a principal effect of the repurchase program will be to increase the earnings per share of those shares of BSB Bancorp stock that remain outstanding after the repurchases." BSB Bancorp, Inc., which currently has 9,921,086 shares of common stock outstanding, is the bank holding company for BSB Bank & Trust Company, a diversified financial The diversified financial services segment includes a range of consumer and commercially-oriented companies offering a wide variety of products and services, including various lending products (such as home equity loans and credit cards), insurance, and securities and investment services organization with total assets of over $2.3 billion at March 31, 2001. Headquartered in Binghamton, New York This article is about the City of Binghamton, New York. For the adjacent Town of Binghamton, see Binghamton (town), New York. Binghamton is a city located in the Southern Tier of New York in the United States. It is the county seat of Broome County. , BSB Bank & Trust Company operates 21 banking offices in Broome, Onondaga, Tioga, Chenango and Chemung counties, providing a broad range of deposit, loan, trust and financial management services to businesses and consumers. |
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