Westfield Financial, Inc. Announces Stock Repurchase Program
WESTFIELD, Mass.--(BUSINESS WIRE)-- Westfield Financial, Inc. (WFD) (the Company) (NasdaqGS:WFD), the holding company for Westfield Bank (the Bank), announced today that its Board of Directors has authorized a stock repurchase program (Repurchase Program) under which the Company may purchase up to 1,333,496 shares, or 5% of its outstanding common stock. On May 25, 2010, the Company had previously announced a stock repurchase program for 2,924,367 shares of its common stock and as of December 21, 2011, 2,600,202 shares have been repurchased under that program. The Repurchase Program will commence upon the completion of the previously announced repurchase program, which is expected to occur shortly, subject to market conditions.
About Westfield Financial, Inc.
Westfield Financial is a Massachusetts-chartered stock holding company and the parent company of Westfield Bank. The Bank is a federally-chartered savings bank regulated by the Office of Comptroller of the Currency. The Bank is headquartered in Westfield, Massachusetts and operates through 11 banking offices in Agawam, East Longmeadow, Feeding Hills, Holyoke, Southwick, Springfield, West Springfield and Westfield, Massachusetts. The Banks deposits are insured by the Federal Deposit Insurance Corporation.
The Company wishes to caution readers not to place undue reliance on any such forward-looking statements contained in this press release, which speak only as of the date made. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors discussed under the caption Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2010 and in subsequent filings with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent our views as of the date of this release. The Company and the Bank do not undertake and specifically decline any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
Westfield Financial, Inc.
James C. Hagan, 413-568-1911
President & CEO
Leo R. Sagan, Jr., 413-568-1911
Source: Westfield Financial, Inc.Copyright Business Wire 2011