GREENFIELD, Wis., July 29,
2022 /PRNewswire/ -- 1895 Bancorp of Wisconsin, Inc. ("the "Company") (NASDAQ
Capital Market: BCOW), the holding company for PyraMax Bank, FSB,
announced that it has adopted a stock repurchase program for up to
5% of its outstanding common stock. This is the Company's
first stock repurchase program since completing its second step
reorganization and related stock offering in July 2021, and is subject to regulatory
non-objection.
Repurchases are expected to commence after the Company publicly
releases its results of operations for the period ended
June 30, 2022. Shares may be
repurchased in open market or private transactions, through block
trades, or pursuant to any trading plan that may be adopted in
accordance with Rule 10b5-1 of the Securities and Exchange
Commission. The repurchase program has no expiration
date.
Repurchases will be made at management's discretion at prices
management considers to be attractive and in the best interests of
the Company and its stockholders, subject to the availability of
stock, general market conditions, the trading price of the stock,
alternative uses for capital, and the Company's financial
performance. Open market purchases will be subject to the
limitations set forth in Rule 10b-18
of the Securities and Exchange Commission and other applicable
legal requirements.
The timing and amount of share repurchases under this
authorization may be suspended, terminated or modified by the
Company at any time for any reason, including market conditions,
the cost of repurchasing shares, the availability of alternative
investment opportunities, liquidity, and other factors deemed
appropriate. These factors may also affect the timing and amount of
share repurchases. The Company is not obligated to repurchase any
particular number of shares or any shares in any specific time
period.
Forward Looking
Statements
Certain statements herein constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such statements may be identified by words such as
"believes," "will," "expects," "project," "may," "could,"
"developments," "strategic," "launching," "opportunities,"
"anticipates," "estimates," "intends," "plans," "targets" and
similar expressions. These statements are based upon the current
beliefs and expectations of the Company's management and are
subject to significant risks and uncertainties. Actual results may
differ materially from those set forth in the forward-looking
statements as a result of numerous factors. Factors that could
cause such differences to exist include, but are not limited to,
general economic conditions, changes in interest rates, regulatory
considerations, and competition and the other risks described in
the Company's Annual Report on Form 10-K and Quarterly Reports on
Form 10-Q as filed with the Securities and Exchange Commission.
Should one or more of these risks materialize or should underlying
beliefs or assumptions prove incorrect, the Company's actual
results could differ materially from those discussed. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this release.
Forward-looking statements speak only as of the date they are made,
and we assume no obligation to update any of these statements in
light of new information, future events or otherwise unless
required under federal securities laws.
Contact: Richard B. Hurd
Telephone: (414) 421-8200
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SOURCE PyraMax Bank / 1895 Bancorp of Wisconsin, Inc.