Clifton Savings Bancorp, Inc. Announces 10b5-1 Stock Repurchase Plan.CLIFTON, N.J. -- Clifton Savings Bancorp, Inc. (Nasdaq:CSBK), announced today that, through July 31, 2005, its previously announced stock repurchase plan stock repurchase plan 1. See buyback. 2. See self-tender. for up to 686,936 shares, or 5% of the Company's outstanding common stock held by persons other than Clifton MHC MHC major histocompatibility complex. MHC abbr. major histocompatibility complex MHC major histocompatibility complex. , will be conducted solely through a Rule 10b5-1 repurchase plan with Keefe, Bruyette & Woods, Inc. Purchases will be based upon the parameters of the Rule 10b5-1 repurchase plan. The Rule 10b5-1 repurchase plan allows the Company to repurchase its shares during periods when it would normally not be active in the market due to its internal trading blackout period. The Company is the holding company of Clifton Savings Bank, S.L.A., a New Jersey chartered savings and loan association savings and loan association, type of financial institution that was originally created to accept savings from private investors and to provide home mortgage services for the public. The first U.S. savings and loan association was founded in 1831. headquartered in Clifton, New Jersey Clifton is a city in Passaic County, New Jersey, United States. As of the United States 2000 Census, the city had a total population of 78,672. Clifton was incorporated as a city by an Act of the New Jersey Legislature on April 26, 1917, replacing Acquackanonk Township, . The Bank operates a total of 10 full-service banking offices in northeast New Jersey. |
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