Teche Holding Co. (TSH: Quote), the holding company for Teche Federal Bank, said Friday that its Board of Directors has authorized a stock repurchase plan to repurchase up to 3%, or about 60,000 shares, of the company's common stock.
The repurchases will be made in accordance with the plan and are expected to be made from time to time in open-market and privately negotiated transactions, subject to availability of the stock, market conditions, the trading price of the stock and the Company's financial performance. Such repurchased shares may become treasury shares and utilized for general corporate and other purposes, including the issuances of shares pursuant to the Company's stock benefit plans in order to mitigate the potentially dilutive effects of such plans.
The repurchase program is expected to be completed in 12 to 18 months.
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by RTT Staff Writer
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