Community Savings Bankshares, Inc. Announces Completion of Block Acquisition.
NORTH PALM BEACH, Fla.--(BUSINESS WIRE)--Oct. 13, 2000
Community Savings Bankshares, Inc. ("Bankshares" or the "Company")(Nasdaq:CMSV CMSV Collgeg of Mount Saint Vincent (Riverdale, NY) ) announced today that it had acquired approximately 360,000 shares of common stock in an unsolicited privately negotiated transaction. The Company was contacted this week by a large shareholder who offered its entire position to the Company. The shares were acquired at market value and will be held as treasury shares.
The Company is also currently conducting an open market repurchase program. Approximately 170,000 shares remain to be repurchased under such program.
Community Savings Bankshares, Inc., a Delaware-chartered stock holding company, is the parent holding company for Community Savings, F. A. Chartered in 1955, the Association is a federal stock 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. , the deposits of which 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. . Headquartered in North Palm Beach, Florida North Palm Beach is an incorporated village in Palm Beach County, Florida, United States. The population was 12,064 at the 2000 census. As of 2004, the population recorded by the U.S. Census Bureau is 12,645. , the Association serves customers in Palm Beach, Martin, St. Lucie St. Lucie may refer to:
Certain information in this press release may constitute forward-looking information that involves risks and uncertainties that could cause actual results to differ materially from those estimated. Persons are cautioned that such 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. are not guarantees of future performance and are subject to various factors which could cause actual results to differ materially from those estimated. These factors include, but are not limited to, changes in general economic and market conditions, legislative and regulatory changes, monetary and fiscal policies of the federal government, demand for loan and deposit products and the development of an interest rate environment that adversely affects the interest rate spread or other income from Bankshares' investments and operations.