Common Stock Repurchase Program Authorized.HARRISBURG, Pa.--(BUSINESS WIRE)--Nov. 19, 1997--The board of directors of Harris Financial Inc. (Nasdaq/NM:HARS HARS Historical Aircraft Restoration Society HARS HIV/AIDS Reporting System HARS Historic Area Remediation Site HARS Highway Advisory Radio System (public service announcements) HARS High Altitude Route System ) is pleased to announce the approval of an authorization The right or permission to use a system resource; the process of granting access. See access control. for management to purchase, in open market, transactions up to 1.5 million post-split shares of its outstanding common stock. The corporation's authorization is subject to and conditioned upon the approval of the Pennsylvania Pennsylvania (pĕnsəlvā`nyə), one of the Middle Atlantic states of the United States. It is bordered by New Jersey, across the Delaware River (E), Delaware (SE), Maryland (S), West Virginia (SW), Ohio (W), and Lake Erie and New York Department of Banking which has not yet been granted. In announcing the plan, James L. Durrell, president, of Harris Financial Inc., stated that the board of directors believes the opportunity to purchase Harris Financial Inc.'s common stock represents an attractive opportunity for the corporation and its shareholders. The purchases are expected to be funded by using available excess capital. Harris Financial Inc. is the holding company for Harris 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. , a $2.2 billion savings bank headquartered in Harrisburg. Harris Savings Bank has 33 branches located throughout central Pennsylvania and northern Maryland Maryland (mâr`ələnd), one of the Middle Atlantic states of the United States. It is bounded by Delaware and the Atlantic Ocean (E), the District of Columbia (S), Virginia and West Virginia (S, W), and Pennsylvania (N). . CONTACT: Harris Financial Inc. Richard H. Steltzer, 717/236-4041 Fax: 717/231-4841 |
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