Quaint Oak Bancorp, Inc. Announces Second Share Repurchase Program
March 11 2010 - 6:25AM
Quaint Oak Bancorp, Inc. (OTCBB:QNTO) (the "Company"), the holding
company for Quaint Oak Bank, announced today that its Board of
Directors has approved the adoption of its second stock repurchase
program of up to an additional 69,431 shares, or approximately 5.5%
of the Company's current outstanding shares of common
stock. The Company will commence its second stock repurchase
program upon the completion of its prior repurchase program which
has 7,250 shares remaining to be purchased. Repurchases will be
made by the Company from time to time in open-market or
privately-negotiated transactions or otherwise as, in the opinion
of management, market conditions warrant. The repurchased shares
will be held by the Company as treasury stock and will be available
for general corporate purposes.
Robert T. Strong, President and Chief Executive Officer, stated,
"We are pleased to announce our second share repurchase program,
which reflects our continuing commitment to manage our capital
prudently and in a manner which should enhance shareholder
value."
Quaint Oak Bancorp, Inc. is a community-based, savings and loan
holding company providing consumer and commercial banking services
through its wholly-owned subsidiary, Quaint Oak Bank, headquartered
in Southampton, Pennsylvania. Quaint Oak Bank has served
individuals and businesses in the Bucks County area for more than
80 years. Quaint Oak Bancorp's website is
www.quaintoak.com.
The Quaint Oak Bancorp, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=4654
CONTACT: Quaint Oak Bancorp, Inc.
Robert T. Strong, President and Chief Executive Officer
(215) 364-4059
Quaint Oak Bancorp (QB) (USOTC:QNTO)
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