Bank Mutual Announces Annual Meeting Results; Directors Re-Elected and Stock Incentive Plan Approved.Business Editors MILWAUKEE--(BUSINESS WIRE)--May 3, 2004 Bank Mutual Corporation (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 :BKMU) announced the results of its 2004 annual meeting of shareholders, which was held earlier today. At the meeting, all director-nominees were re-elected, the selection of Ernst & Young as independent auditors Independent Auditor An external auditor with a certified public accounting designation that qualifies him or her to provide an auditor's report. Notes: These auditors aren't affiliated with the company being audited. was ratified and the proposed 2004 Stock Incentive Plan was approved. Three Bank Mutual directors were re-elected. At the meeting, Michael T. Crowley, Sr., Raymond W. Dwyer and J. Gus Swoboda were elected for terms ending in 2007. Shareholders also approved the Bank Mutual Corporation 2004 Stock Incentive Plan, which provides for options and restricted stock grants to officers, directors and key employees. As previously disclosed, because of regulatory requirements, until October 29, 2004, Bank Mutual may only purchase shares of its common stock to fund needs for potential restricted stock grants under the Stock Incentive Plan. Bank Mutual expects to begin market repurchases of the 1.6 million shares authorized Shares authorized The maximum number of shares of stock of a company allowed in the articles of incorporation, which may be changed only by a shareholder vote. See: Issued and outstanding. shares authorized See authorized capital stock. for the restricted stock awards, as soon as possible. No specific schedule was announced for completion. Bank Mutual is the fifth largest financial institution holding company headquartered in the state of Wisconsin and its stock is quoted on The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. (R) under the symbol "BKMU." Its subsidiary bank, Bank Mutual, operates 70 offices in the state of Wisconsin and one office in Minnesota. Cautionary Statements The discussions in this news release which are not historical statements contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risk and uncertainties. Statements which are not historical statements include those under "Outlook" and those in the future tense future tense n. A verb tense expressing future time. Noun 1. future tense - a verb tense that expresses actions or states in the future future or which use terms such as "believe," "expect," and "anticipate." Bank Mutual Corporation's actual future results could differ in important and material ways from those discussed. Many factors could cause or contribute to such differences. These factors include changing interest rates, changes in demand for loans or other services, competition from other institutions, changes in OTS See Office of Thrift Supervision. regulations or interpretations, the results of our lending activities and loan loss experience, general economic and political developments, those items discussed under "Outlook," and other factors discussed in our filings with the Securities and Exchange Commission. |
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