Citizens First Bancorp, Inc. to Initiate Stock Repurchase Program.Business Editors PORT HURON Port Huron (hy  r`ən), city (1990 pop. 33,694), seat of St. Clair co., S Mich., a natural, deepwater port of entry at the junction of the St. Clair River with Lake Huron; inc. 1857. , Mich.--(BUSINESS WIRE)--Oct. 1, 2002 Citizens First Bancorp
First BanCorp is a financial holding company located in San Juan, Puerto Rico, which offers a full range of financial services in Puerto Rico, US Virgin Islands, the British Virgin Islands, and , Inc. (Nasdaq:CTZN) (the "Company"), the holding company for Citizens First Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. , Port Huron, Michigan Port Huron is a city in the U.S. state of Michigan. As of the 2000 census, the city population was 32,338. It is the county seat of St. Clair County6. The city is adjacent to Port Huron Township, but is politically independent. , announced today that its Board of Directors has approved the repurchase of up to 5%, or 428,701 shares of the Company's common stock. Given the current market conditions, the Company believes that it is important to support the price of its stock. The Company also believes that repurchasing its stock at current prices is an excellent value. Repurchases, which will be conducted through open market or privately negotiated transactions, will be made from time to time depending on market conditions and other factors. Citizens First Bancorp, Inc. is a diversified financial The diversified financial services segment includes a range of consumer and commercially-oriented companies offering a wide variety of products and services, including various lending products (such as home equity loans and credit cards), insurance, and securities and investment services company that offers deposits, loan, commercial banking, investments, insurance and trust services through Citizens First Savings Bank, a Michigan-chartered stock savings bank, and its other subsidiaries. Citizens First Savings offers its services through its fifteen branch offices located throughout Michigan's Thumb Region. Statements contained in this news release may be 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. , as that term is defined in 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. Forward-looking statements may be identified by the use of such words as "intend," "believe," "expect," "anticipate," "should," "planned," "estimated," and "potential." Such forward-looking statements are based on current expectations, but may differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, factors discussed in documents filed by the Company with the Securities and Exchange Commission from time to time. The forward-looking statements are made as of the date of this release, and the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements. |
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