ESSA Bancorp, Inc. Announces Completion of Fourth Stock Repurchase Program
September 29 2011 - 3:30PM
Business Wire
ESSA Bancorp, Inc. (the “Company”) (NASDAQ Global MarketSM
“ESSA”), the holding company for ESSA Bank & Trust (the
“Bank”), announced the completion of its fourth stock repurchase
program, purchasing 637,200 shares at a weighted average cost of
$11.57.
In June 2009, the Company announced that it had completed its
first stock repurchase program, having purchased 2,547,135 shares
at a weighted average cost of $13.14. On October 6, 2010, the
Company announced that it had completed its second stock repurchase
program having purchased 1,499,100 shares at a weighted average
cost of $12.36. On April 12, 2011, the Company announced that it
had completed its third stock repurchase program having purchased
679,900 shares at a weighted average cost of $12.82.
ESSA Bank & Trust, a wholly-owned subsidiary of ESSA
Bancorp, Inc., has total assets of over $1 billion and is the
leading service-oriented financial institution headquartered in the
greater Pocono, Pennsylvania region. Corporate headquarters are
located in downtown Stroudsburg, Pennsylvania, and the Bank has 17
community offices throughout the Greater Pocono and Lehigh Valley
areas in Pennsylvania. In addition to being one of the region’s
largest mortgage lenders, ESSA Bank & Trust offers a full range
of retail, investment, trust, and commercial financial services.
ESSA Bancorp, Inc. stock trades on The NASDAQ Global MarketSM under
the symbol “ESSA.”
Forward-Looking Statements
Certain statements contained herein are “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
Such forward-looking statements may be identified by reference to a
future period or periods, or by the use of forward-looking
terminology, such as “may,” “will,” “believe,” “expect,”
“estimate,” “anticipate,” “continue,” or similar terms or
variations on those terms, or the negative of those terms.
Forward-looking statements are subject to numerous risks and
uncertainties, including, but not limited to, those related to the
economic environment, particularly in the market areas in which the
Company operates, competitive products and pricing, fiscal and
monetary policies of the U.S. Government, changes in government
regulations affecting financial institutions, including regulatory
fees and capital requirements, changes in prevailing interest
rates, acquisitions and the integration of acquired businesses,
credit risk management, asset-liability management, the financial
and securities markets and the availability of and costs associated
with sources of liquidity.
The Company wishes to caution readers not to place undue
reliance on any such forward-looking statements, which speak only
as of the date made. The Company wishes to advise readers that the
factors listed above could affect the Company's financial
performance and could cause the Company's actual results for future
periods to differ materially from any opinions or statements
expressed with respect to future periods in any current statements.
The Company does not undertake and specifically declines any
obligation to publicly release the result of any revisions, which
may be made to any forward-looking statements to reflect events or
circumstances after the date of such statements or to reflect the
occurrence of anticipated or unanticipated events.
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