Rockville Financial Inc. (RCKB), the holding company for Rockville Bank, today announced that its Board approved a new stock repurchase program for up to 2.73 million shares, or 10% of the current outstanding shares.
Rockville also announced that the Company's regulator, the Federal Reserve Bank of Boston, has completed its review of its stock repurchase proposal and has considered all the facts of record. Acting pursuant to authority delegated by the Board of Governors of the Federal Reserve System, the Reserve Bank does not object to the proposal, and the Company may proceed with the stock repurchase program.
The company has nearly completed the remaining authorized repurchases under its prior program. The prior program is 88% complete and has about 342,000 shares remaining available for repurchase before the new program will commence.
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