Legacy Bancorp, Inc. Announces Completion of Stock Repurchase Program
August 06 2007 - 4:00PM
Business Wire
Legacy Bancorp, Inc. (the �Company� or �Legacy�) (NASDAQ:LEGC), the
holding company for Legacy Banks (the �Bank�) announced today the
completion of the Company�s previously announced Stock Repurchase
Program (the �Program�). The Program was approved by the Company�s
Board of Directors on April 24, 2007. A total of 515,430 shares, or
5% of the Company�s outstanding common shares were purchased at an
average cost to the Company of $14.62. Legacy Banks is
headquartered in Pittsfield. It employs 178 people and has eleven
offices throughout Berkshire County in Great Barrington, Lee,
Lenox, North Adams, Otis and Pittsfield, as well as a Loan
Production Office in Colonie, New York. On July 25, 2007 Legacy
announced that it had entered into a definitive agreement with
First Niagara Bank to purchase five branch offices in the New York
towns of Whitehall, Middleburgh, East Durham, Greeneville, and
Windham. Legacy offers Personal Banking, Mortgage Lending,
Commercial Services, Insurance, Investments, Portfolio Management,
Credit and Debit Card products, and Online Services. Legacy Banks,
through its predecessors City Savings Bank, chartered in 1893,
Lenox Savings Bank, chartered 1890, and Lee National Bancorp,
chartered 1835 has a 172-year banking history in Berkshire County.
FORWARD LOOKING STATEMENTS Certain statements herein constitute
�forward-looking statements� within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements are
based on the beliefs and expectations of management, as well as the
assumptions made using information currently available to
management. Since these statements reflect the views of management
concerning future events, these statements involve risks,
uncertainties and assumptions. As a result, actual results may
differ from those contemplated by these statements. Forward-looking
statements can be identified by the fact that they do not relate
strictly to historical or current facts. They often include words
like �believe,� �expect,� �anticipate,� �estimate,� and �intend� or
future or conditional verbs such as �will,� �would,� �should,�
�could� or �may.� Certain factors that could cause actual results
to differ materially from expected results include changes in the
interest rate environment, changes in general economic conditions,
legislative and regulatory changes that adversely affect the
businesses in which Legacy Bancorp is engaged and changes in the
securities market. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this release and the associated conference call. The
Company disclaims any intent or obligation to update any
forward-looking statements, whether in response to new information,
future events or otherwise.
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