BSB Bancorp announces stock repurchase program and declares quarterly cash dividend.BINGHAMTON, N.Y.--(BUSINESS WIRE)--April 25, 1995--William H. Rincker, president and chief executive officer of 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 NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BSBN BSBN Baltic Sea Business Network BSBN Bu Sa Bum Nim ), holding company for Binghamton Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. , announced today that the board of directors of the corporation has authorized the corporation to repurchase up to 215,000 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 during the next six months in open market and unsolicited, negotiated transactions. Repurchases will be subject to availability and prices which are acceptable to the corporation. Rincker stated that "The board of directors adopted the repurchase program because it considers BSB Bancorp's stock to be an attractive investment." Rincker 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." The board of directors also declared a quarterly cash dividend of 22 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. . The dividend is payable June 10, 1995 to shareholders of record at the close of business on May 25, 1995. BSB Bancorp Inc., which currently has 4,300,098 shares of common stock outstanding, is the bank holding company for Binghamton Savings Bank, 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 $1.1 billion. Headquartered in Binghamton, Banghamton Savings Bank operates 12 offices in Broome, Tioga, Chenango and Chemung Counties, providing a broad range of deposit, loan, trust and financial management services to businesses and consumers. CONTACT: BSB Bancorp, Binghamton William H. Rincker, 607/779-2536 |
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