Simplicity Bancorp, Inc. (SMPL: Quote), the holding company for Simplicity Bank, said Friday that its Board of Directors authorized the fourth stock repurchase program pursuant to which the company plans to repurchase up to 5% of its issued and outstanding shares upon completion of the third stock repurchase program, or up to about 413,081 shares.
The timing of the repurchases will depend on certain factors, including but not limited to, market conditions and prices, the Company's liquidity requirements and alternative uses of capital.
Since November 30, 2011, the company has repurchased about 1.35 million shares at prices ranging from $12.00 to $15.44 per share with an average price of $14.29 per share. There are 24,145 shares remaining to be repurchased under the previous repurchase programs.
by RTT Staff Writer
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