Pulaski Financial Repurchases Warrant from U.S. Treasury
ST. LOUIS--(BUSINESS WIRE)-- Pulaski Financial Corp. (PULB) announced today that is has completed the repurchase of the warrant issued to the United States Department of the Treasury as part of the TARP Capital Purchase Program. The warrant provided the right to purchase 778,421 shares of Pulaski Financial Corp.s common stock at $6.27 per share. Pulaski and the U.S. Treasury agreed upon a repurchase price of $1.1 million for the warrant. Following the repurchase of the warrant, the U.S. Treasury has no remaining equity stake in Pulaski Financial Corp.
This is a prudent and appropriate investment that will limit future shareholder dilution, said President and Chief Executive Officer Gary Douglass. We will now turn our attention to making a modest start toward redeeming a portion of our outstanding preferred securities that are now held by private investors.
About Pulaski Financial
Pulaski Financial Corp., operating in its 90th year through its subsidiary, Pulaski Bank, serves customers throughout the St. Louis and Kansas City metropolitan areas, Joplin, Missouri and Wichita, Kansas. The bank offers a full line of quality retail and commercial banking products through 13 full-service branch offices in the St. Louis metropolitan area and offers mortgage loan products through eight loan production offices in the St. Louis and Kansas City metropolitan areas, Joplin, Missouri and Wichita, Kansas. The Companys website can be accessed at www.pulaskibank.com.
This news release may contain forward-looking statements about Pulaski Financial Corp., which the Company intends to be covered under the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. Statements that are not historical or current facts, including statements about beliefs and expectations, are forward-looking statements. These forward-looking statements cover, among other things, anticipated future revenue and expenses and the future plans and prospects of the Company. These statements often include the words "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "targets," "potentially," "probably," "projects," "outlook" or similar expressions. You are cautioned that forward-looking statements involve uncertainties, and important factors could cause actual results to differ materially from those anticipated, including changes in general business and economic conditions, changes in interest rates, legal and regulatory developments, increased competition from both banks and non-banks, changes in customer behavior and preferences, and effects of critical accounting policies and judgments. For discussion of these and other risks that may cause actual results to differ from expectations, refer to our Annual Report on Form 10-K for the year ended September 30, 2011 on file with the SEC, including the sections entitled "Risk Factors." These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update them in light of new information or future events.
Pulaski Financial Corp.
Paul Milano, 314-317-5046
Chief Financial Officer
Source: Pulaski Financial Corp.Copyright Business Wire 2012