ASHEVILLE, N.C., July 1, 2016 /PRNewswire/ -- ASB Bancorp,
Inc. (the "Company") (NASDAQ GM: ASBB) announced today that the
Company's Board of Directors approved a stock repurchase program
whereby the Company may repurchase up to 200,000 shares of its
outstanding common stock as and when deemed appropriate by
management and under any plan that may be deployed in accordance
with Rule 10b5-1 of the Securities Exchange Act of 1934. 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.
ASB Bancorp is the parent company of Asheville Savings Bank,
S.S.B., a North Carolina chartered
stock savings bank offering traditional financial services through
thirteen full-service banking centers located in Buncombe, Madison, McDowell, Henderson, and Transylvania counties in Western North Carolina and a loan production
office in Charlotte, North
Carolina. Originally chartered in 1936 and headquartered in
Asheville, North Carolina,
Asheville Savings Bank is locally managed with a focus on fostering
strong relationships with its individual and business customers,
its employees and the communities it serves.
Contact:
Suzanne S. DeFerie
President and Chief Executive Officer
(828) 254-7411
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SOURCE ASB Bancorp, Inc.