Cambridge Bancorp Announces Stock Repurchase Program; Repurchase of 100,000 Shares Authorized.CAMBRIDGE, Mass. -- Cambridge Bancorp (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : CATC CATC Cisco Academy Training Center CATC Computer Access Technology Corporation (Santa Clara, CA, USA) CATC Clean Air Technology Center CATC Combined Arms Training Center CATC Calhoun Area Technology Center ) today announced that its Board of Directors has authorized the Company to repurchase up to 100,000 shares of the Company's common stock. Under this program, Cambridge Bancorp's shares may be repurchased through open market purchases or privately negotiated transactions depending on prevailing market conditions and other factors until the earlier of December 31, 2006, or a determination by the Board of Directors to discontinue such repurchases. Cambridge Bancorp currently has approximately four million shares of common stock outstanding. "The Company continues to make strong progress in executing its strategic initiatives. This stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program underscores our confidence in the Company," said Joseph V. Roller II, President and Chief Executive Officer. "We believe that our common stock represents an attractive investment, and that this repurchase of shares represents an effective means to strengthen long-term shareholder value." Cambridge Bancorp and its subsidiary, Cambridge Trust Company, are based in Cambridge, Massachusetts, in the heart of Harvard Square. Cambridge Trust Company is a 115-year-old Massachusetts chartered commercial bank with nine Massachusetts branches in Cambridge, Concord, Lincoln, Weston, and Beacon Hill. Cambridge Trust Company operates one of New England's leading trust and investment management operations with nearly $1.3 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. . In addition, Cambridge Trust Company of New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). offers trust and investment management services at two locations: Concord and Exeter. White Mountain Investment, a division of Cambridge Trust Company, is also based in Concord, New Hampshire
Concord is the capital of the state of New Hampshire in the United States. It is also the county seat of Merrimack County. As of the 2000 census, its population was 40,687. . |
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