Home Federal Bancorp, Inc. of Louisiana Announces Approval of Stock Repurchase Program

Rhea-AI Summary

Home Federal Bancorp announced a new stock repurchase program on February 16, 2022, authorizing the buyback of up to 170,000 shares, or about 5.0% of its outstanding common stock. This program, which can be executed in open market or privately negotiated transactions, does not have a specified expiration date. The initiative aims to enhance shareholder value and reflects the company's commitment to returning capital to its investors.

Positive

• Approval of a stock repurchase program for up to 170,000 shares, enhancing shareholder value.
• Repurchase represents approximately 5.0% of outstanding common stock, signaling confidence in the company's financial health.

Negative

• None.

SHREVEPORT, La., Feb. 16, 2022 (GLOBE NEWSWIRE) -- Home Federal Bancorp, Inc. of Louisiana (the “Company”) (NASDAQ: HFBL), the holding company for Home Federal Bank, announced today that its Board of Directors on February 16, 2022, approved the Company’s eleventh stock repurchase program. The new repurchase program provides for the repurchase of up to 170,000 shares, or approximately 5.0% of the Company’s outstanding common stock from time to time, in open market or privately negotiated transactions. The stock repurchase program does not have an expiration date.

Home Federal Bancorp, Inc. of Louisiana is the holding company for Home Federal Bank which conducts business from its nine full-service banking offices and home office in northwest Louisiana.

Statements contained in this news release which are not historical facts may be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. 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.” We undertake no obligation to update any forward-looking statements.

Contact:

Home Federal Bancorp, Inc. of Louisiana James R. Barlow, Chairman of the Board, President and Chief Executive Officer (318) 222-1145

FAQ

What is the purpose of the stock buyback program by HFBL?

The stock buyback program aims to enhance shareholder value by repurchasing up to 170,000 shares, approximately 5.0% of outstanding stock.

When was the stock repurchase program approved for HFBL?

The stock repurchase program was approved on February 16, 2022.

How many shares will HFBL repurchase in the new program?

HFBL will repurchase up to 170,000 shares in the new stock repurchase program.

Does the HFBL stock repurchase program have an expiration date?

No, the stock repurchase program does not have an expiration date.