Hampden Bancorp, Inc. Reports Completion of 5% Stock Repurchase Program
SPRINGFIELD, Mass.--(BUSINESS WIRE)-- Hampden Bancorp, Inc. (HBNK) (the Company) (NASDAQ - HBNK), which is the holding company for Hampden Bank (the Bank), announced today the completion of the Companys fifth Stock Repurchase Program (the Program). The Program was approved by the Companys Board of Directors on November 1, 2011. A total of 321,255 shares, or approximately 5% of the Companys then outstanding common shares were purchased at a total cost to the Company of approximately $3,795,000, or an average of $11.81 per share.
Established in 1852, Hampden Bank is a full service community bank serving the families and businesses in and around Hampden County. The Bank has ten office locations in Springfield, Agawam, Longmeadow, West Springfield, Wilbraham, Tower Square in downtown Springfield, and Indian Orchard. Hampden Bank offers customers the latest in internet banking, including on-line banking and bill payment services.
Certain statements herein constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and expectations of management, as well as the assumptions made using information currently available to management. Because these statements reflect the views of management concerning future events, these statements involve risks, uncertainties and assumptions. As a result, actual results may differ from those contemplated by these statements. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words like believe, expect, anticipate, estimate, and intend or future or conditional verbs such as will, would, should, could, or may. Certain factors that could have a material adverse affect on the operations of the Bank include, but are not limited to, increased competitive pressure among financial service companies, national and regional economic conditions, changes in interest rates, changes in consumer spending, borrowing and savings habits, legislative and regulatory changes, adverse changes in the securities markets, inability of key third-party providers to perform their obligations to Hampden Bank, changes in relevant accounting principles and guidelines and our ability to successfully implement our branch expansion strategy. Additionally, other risks and uncertainties are described in the Companys Annual Report on Form 10-K filed with the Securities and Exchange Commission (the SEC) which is available through the SECs website at www.sec.gov. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this report. The Company disclaims any intent or obligation to update any forward-looking statements, whether in response to new information, future events or otherwise.
Hampden Bancorp, Inc.
Robert A. Massey, 413-452-5150
CFO, Treasurer, and Senior Vice President
Source: Hampden Bancorp, Inc.Copyright Business Wire 2011