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

Rhea-AI Summary

Home Federal Bancorp, Inc. of Louisiana (NASDAQ: HFBL) has announced a new stock repurchase program, authorizing the buyback of up to 85,000 shares, representing around 5% of its outstanding common stock. This repurchase will occur through open market or privately negotiated transactions and is notable for having no expiration date. This initiative reflects the company's ongoing commitment to enhancing shareholder value.

SHREVEPORT, La., Nov. 18, 2020 (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 at their meeting on November 18, 2020, approved the Company’s tenth stock repurchase program. The new repurchase program provides for the repurchase of up to 85,000 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 seven full-service banking offices and home office in northwest Louisiana. Additional information is available at www.hfbla.com.

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 Home Federal Bancorp's stock repurchase program?

The program aims to enhance shareholder value by buying back up to 85,000 shares of common stock.

How many shares is Home Federal Bancorp planning to repurchase?

Home Federal Bancorp plans to repurchase up to 85,000 shares, or approximately 5% of its outstanding stock.

Is there an expiration date for the stock repurchase program?

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

What stock symbol represents Home Federal Bancorp?

The stock symbol for Home Federal Bancorp is HFBL.