Capital Crossing Bank Announces Increase and Extension of Stock Repurchase Program.Business Editors BOSTON--(BUSINESS WIRE)--March 24, 2003 Capital Crossing Bank (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 :CAPX CAPX Capital Expenditure(s) cAPX cytosolic ascorbate peroxidase CAPX Capital Expense(s) CAPX Customer Accessible Parts eXpress (Grove Cranes) ) (the "Bank") announced today that it has increased the amount of its common stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program by $5.0 million and extended such repurchase program until March 20, 2004. The Bank now may spend up to $5,591,000 to repurchase shares of its common stock on the open market or in privately negotiated transactions. The extended repurchase program has been approved by the Bank's Board of Directors and regulatory authorities, and provides that the Bank may repurchase shares from time to time in such amounts as market conditions warrant, subject to regulatory considerations. As of March 24, 2003, the Bank has repurchased 2,351,351 shares under its current repurchase program and a previous repurchase program which was completed in 2001. Capital Crossing Bank is a Massachusetts-chartered, FDIC-insured trust company with approximately $933 million in assets as of December 31, 2002. The Bank operates as a commercial bank, providing financial products and services to customers through its executive and main office in Boston, its website at www.capitalcrossing.com, and through its leasing subsidiary Dolphin Capital Corp. located in Moberly, Missouri Moberly is a city in Randolph County, Missouri, United States. The population was 11,945 at the 2000 census. The city was incorporated 1868. The Moberly Micropolitan Statistical Area consists of Randolph County. . The Bank specializes in purchasing loans, primarily secured by commercial and multi-family residential Multi-family residential is a classification of housing where multiple separate housing units are contained within one building. The most common form is an apartment building. Many intentional communities incorporate multi-family residences, such as in cohousing projects. real estate. |
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