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Washington Banking Announces 775K Shares Repurchase Program

Washington Banking Co. (WBCO: Quote), the holding company for Whidbey Island Bank, said Friday that its Board of Directors has authorized the repurchase of up to 775,000 shares of the Company's outstanding shares or approximately 5% of current outstanding.

Repurchases may be made from time to time on the open market at prevailing market prices or in negotiated transactions off the market. The number, timing and price of shares repurchased will depend on business and market conditions, and other factors, including opportunities to deploy the Company's capital.

The repurchase program is expected to continue through the end of 2014, however the company is under no obligation to repurchase a specific number or dollar amount of shares and the repurchase program may be discontinued at any time.

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by RTT Staff Writer

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