1895 BANCORP OF WISCONSIN, INC. ANNOUNCES ADOPTION OF REPURCHASE PROGRAM

Rhea-AI Summary

1895 Bancorp of Wisconsin has launched a stock repurchase program for up to 5% of its outstanding common stock, marking its first buyback initiative since a stock offering in July 2021. The program is contingent on regulatory approval and is set to begin following the release of the financial results for the period ending June 30, 2022. Repurchases can occur in various forms, including open market transactions, and will be guided by management's assessment of market conditions.

Positive

• First stock repurchase program since July 2021.
• Potentially boosts shareholder value by reducing the number of outstanding shares.

Negative

• No guaranteed timeline for share repurchases, which may lead to opportunity costs.
• Dependence on market conditions may limit the effectiveness of the program.

GREENFIELD, Wis., July 29, 2022 /PRNewswire/ -- 1895 Bancorp of Wisconsin, Inc. ("the "Company") (NASDAQ Capital Market: BCOW), the holding company for PyraMax Bank, FSB, announced that it has adopted a stock repurchase program for up to 5% of its outstanding common stock.  This is the Company's first stock repurchase program since completing its second step reorganization and related stock offering in July 2021, and is subject to regulatory non-objection. 

Repurchases are expected to commence after the Company publicly releases its results of operations for the period ended June 30, 2022.  Shares may be repurchased in open market or private transactions, through block trades, or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission.  The repurchase program has no expiration date.

Repurchases will be made at management's discretion at prices management considers to be attractive and in the best interests of the Company and its stockholders, subject to the availability of stock, general market conditions, the trading price of the stock, alternative uses for capital, and the Company's financial performance. Open market purchases will be subject to the limitations set forth in Rule 10b-18 of the Securities and Exchange Commission and other applicable legal requirements.

The timing and amount of share repurchases under this authorization may be suspended, terminated or modified by the Company at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases. The Company is not obligated to repurchase any particular number of shares or any shares in any specific time period.

Forward Looking Statements

Certain statements herein constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by words such as "believes," "will," "expects," "project," "may," "could," "developments," "strategic," "launching," "opportunities," "anticipates," "estimates," "intends," "plans," "targets" and similar expressions. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements as a result of numerous factors. Factors that could cause such differences to exist include, but are not limited to, general economic conditions, changes in interest rates, regulatory considerations, and competition and the other risks described in the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q as filed with the Securities and Exchange Commission. Should one or more of these risks materialize or should underlying beliefs or assumptions prove incorrect, the Company's actual results could differ materially from those discussed. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release.  Forward-looking statements speak only as of the date they are made, and we assume no obligation to update any of these statements in light of new information, future events or otherwise unless required under federal securities laws.

Contact: Richard B. Hurd
Telephone: (414) 421-8200

View original content:https://www.prnewswire.com/news-releases/1895-bancorp-of-wisconsin-inc-announces-adoption-of-repurchase-program-301596320.html

SOURCE PyraMax Bank / 1895 Bancorp of Wisconsin, Inc.

FAQ

What is the stock repurchase program for BCOW?

1895 Bancorp of Wisconsin has adopted a stock repurchase program allowing for the buyback of up to 5% of its outstanding common stock.

When will 1895 Bancorp of Wisconsin start repurchasing shares?

The repurchase program will commence after the company releases its financial results for the period ending June 30, 2022.

What are the benefits of the stock buyback for BCOW shareholders?

The buyback program may increase shareholder value by reducing the total number of outstanding shares.

Are there any risks associated with the stock repurchase program for BCOW?

Yes, the repurchase program is subject to market conditions and may not proceed as planned, leading to potential opportunity costs.

Is there a timeline for the stock repurchase program of 1895 Bancorp of Wisconsin?

The program does not have a specific expiration date but is influenced by management's discretion and market conditions.