Chesterfield Financial Corp. Announces Completion of Stock Repurchase Program and Start of New Repurchase Program.Business Editors CHICAGO--(BUSINESS WIRE)--July 25, 2002 Chesterfield Financial Corp. (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 :CFSL CFSL Cavitation-Field Sonoluminescence ) (the "Company"), the holding company for Chesterfield Federal Savings and Loan Association Federal Savings and Loan Association An institution chartered by the federal government whose primary function is to collect savings deposits and to provide mortgage loans. of Chicago, announced today that the Company has completed the stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program announced on May 13, 2002. The Company has repurchased 207,200 shares at an average cost of $18.02 per share. The Company also announced today that its Board of Directors has approved an additional repurchase of up to 197,300 shares of the Company's common stock, or approximately 5.0% of its outstanding shares. The Company currently has 3,946,295 shares outstanding. The repurchases, which will be conducted through open market purchases or in privately negotiated transactions, will be made from time to time, depending on market conditions and other factors. Chesterfield Federal Savings and Loan Association of Chicago operates four financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. offices in the Chicago area - its main office in Chicago, and branch offices in Chicago, Palos Hills, and Frankfort. The Association's deposits are insured by the Federal Deposit Insurance Corporation Federal Deposit Insurance Corporation (FDIC), an independent U.S. federal executive agency designed to promote public confidence in banks and to provide insurance coverage for bank deposits up to $100,000. . This news release contains 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 are subject to numerous assumptions, risk and uncertainties. Actual results could differ materially from those contained in or implied by such forward-looking statements for a variety of factors including: (1) developments in general economic conditions, including interest rate and currency fluctuations, market fluctuations and perceptions, and inflation; (2) changes in the economy which could materially change anticipated credit quality trends and the ability to generate loans and deposits; (3) a failure of the capital markets to function consistently within customary levels; (4) a delay in or an inability to execute strategic initiatives designed to grow revenues and/or manage expenses; (5) legislative developments, including changes in laws concerning taxes, banking, securities, insurance and other aspects of the industry; (6) changes in the competitive environment for financial services organizations and the Company's ability to adapt to such changes. |
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