Cavalry Bancorp, Inc. Announces Stock Repurchase Program.Business Editors MURFREESBORO, Tenn.--(BUSINESS WIRE)--Sept. 26, 2001 Cavalry Bancorp, Inc. (the "Company") (NASDAQ/NMS:CAVB) announced today that it plans to implement a program to repurchase 710,480 shares or approximately 10% of its 7.1 million shares outstanding. At June 30, 2001, Cavalry Bancorp, Inc. had assets of $399.4 million and stockholder's equity Stockholder's equity The residual claims that stockholders have against a firm's assets, calculated by subtracting all current liabilities and debt liabilities from total assets. of $46.4 million. Pursuant to the stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program shares will be purchased by Cavalry Bancorp, Inc. from time to time, depending upon market conditions, in open market transactions until such time as 710,480 shares have been repurchased. Ed C. Loughry Jr., Chairman and Chief Executive Officer of Cavalry Bancorp Inc., commented, "While Cavalry Bancorp Inc. continues to effectively utilized its capital base to support the expansion of its community oriented banking franchise, we believe repurchasing shares is one of the least risky ways a bank can deploy excess capital while improving earnings ratios." Cavalry Bancorp, Inc., is the holding company for Cavalry Banking, which operates nine full-service offices in Rutherford Rutherford (rŭth`ərfərd), borough (1990 pop. 17,790), Bergen co., NE N.J., a residential suburb of the New York City–N New Jersey metropolitan area; inc. 1881. Several pre-Revolutionary houses remain there. and Bedford Counties Bedford County is the name of several counties in the United States:
"Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: The statements contained in this release which are not historical facts contain forward looking information with respect to plans, projections or future performance of the company, the occurrence of which involve certain risks and uncertainties detailed in the Company's filings with the Securities and Exchange Commission. |
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