SR BANCORP, INC. ANNOUNCES ADOPTION OF INITIAL STOCK REPURCHASE PROGRAM
SR Bancorp, Inc. (NASDAQ: SRBK), the holding company for Somerset Regal Bank, has announced its first stock repurchase program since completing its stock offering on September 19, 2023. The program aims to repurchase up to 950,793 shares of its common stock, representing approximately 10% of its outstanding shares.
The repurchases may be conducted through open market or private transactions, block trades, or any trading plan compliant with SEC Rule 10b5-1. The timing and amount of repurchases will depend on factors such as stock availability, market conditions, trading price, alternative capital uses, and the company's financial performance. Open market purchases will adhere to SEC Rule 10b-18 and other legal requirements.
CEO William P. Taylor expressed satisfaction with the company's strong capital position, enabling this stock repurchase initiative.
SR Bancorp, Inc. (NASDAQ: SRBK), la holding per Somerset Regal Bank, ha annunciato il suo primo programma di riacquisto di azioni dalla conclusione della sua offerta azionaria il 19 settembre 2023. Il programma mira a riacquistare fino a 950.793 azioni delle sue azioni ordinarie, che rappresentano circa il 10% delle sue azioni in circolazione.
I riacquisti possono essere effettuati tramite operazioni di mercato aperto o transazioni private, contratti a blocco, o qualsiasi piano di trading conforme alla Regola 10b5-1 della SEC. I tempi e l'importo dei riacquisti dipenderanno da fattori quali la disponibilità delle azioni, le condizioni di mercato, il prezzo di trading, le alternative di utilizzo del capitale e le performance finanziarie della società. Gli acquisti sul mercato aperto seguiranno la Regola 10b-18 della SEC e altri requisiti legali.
Il CEO William P. Taylor ha espresso soddisfazione per la forte posizione di capitale dell'azienda, che consente questa iniziativa di riacquisto di azioni.
SR Bancorp, Inc. (NASDAQ: SRBK), la empresa matriz de Somerset Regal Bank, ha anunciado su primer programa de recompra de acciones desde la finalización de su oferta de acciones el 19 de septiembre de 2023. El programa tiene como objetivo recomprar hasta 950,793 acciones de sus acciones ordinarias, lo que representa aproximadamente el 10% de sus acciones en circulación.
Las recompras pueden realizarse a través de transacciones en el mercado abierto o privadas, operaciones en bloque, o cualquier plan de negociación que cumpla con la Regla 10b5-1 de la SEC. El momento y el monto de las recompras dependerán de factores como la disponibilidad de acciones, las condiciones del mercado, el precio de negociación, los usos alternativos de capital y el desempeño financiero de la empresa. Las compras en el mercado abierto se ajustarán a la Regla 10b-18 de la SEC y otros requisitos legales.
El CEO William P. Taylor expresó su satisfacción con la sólida posición de capital de la empresa, lo que permite esta iniciativa de recompra de acciones.
SR Bancorp, Inc. (NASDAQ: SRBK), Somerset Regal Bank의 모회사,가 2023년 9월 19일 주식 공모를 완료한 이후 첫 번째 주식 매입 프로그램을 발표했습니다. 이 프로그램은 최대 950,793주의 보통주를 매입하는 것을 목표로 하며, 이는 약 10%의 발행 주식에 해당합니다.
매입은 공개 시장 또는 개인 거래, 블록 거래, SEC의 10b5-1 규정에 준수하는 거래 계획을 통해 이루어질 수 있습니다. 매입의 시기와 금액은 주식의 가용성, 시장 조건, 거래 가격, 대체 자본 사용 및 회사의 재무 성과와 같은 요인에 따라 달라질 것입니다. 공개 시장에서의 구매는 SEC 규정 10b-18 및 기타 법적 요구 사항을 준수해야 합니다.
CEO William P. Taylor는 회사의 강력한 자본 위치에 만족을 표시하며, 이를 통해 이번 주식 매입 이니셔티브가 가능하다고 전했습니다.
SR Bancorp, Inc. (NASDAQ: SRBK), la société holding de Somerset Regal Bank, a annoncé son premier programme de rachat d'actions depuis la réalisation de son offre d'actions le 19 septembre 2023. Le programme vise à rachat jusqu'à 950 793 actions de ses actions ordinaires, représentant environ 10% de ses actions en circulation.
Les rachats peuvent être effectués par le biais de marchés ouverts ou de transactions privées, de transactions en bloc ou de tout plan de négociation conforme à la règle 10b5-1 de la SEC. Le moment et le montant des rachats dépendront de facteurs tels que la disponibilité des actions, les conditions du marché, le prix de négociation, les utilisations alternatives du capital et la performance financière de l'entreprise. Les achats sur le marché ouvert respecteront la règle 10b-18 de la SEC et d'autres exigences légales.
Le PDG William P. Taylor a exprimé sa satisfaction quant à la forte position en capital de l'entreprise, ce qui rend possible cette initiative de rachat d'actions.
SR Bancorp, Inc. (NASDAQ: SRBK), die Holdinggesellschaft der Somerset Regal Bank, hat ihr erstes Aktienrückkaufprogramm seit dem Abschluss ihrer Aktienemission am 19. September 2023 bekannt gegeben. Das Programm zielt darauf ab, bis zu 950.793 Aktien ihrer Stammaktien zurückzukaufen, was ungefähr 10% der ausstehenden Aktien entspricht.
Die Rückkäufe können durch offene Märkte oder private Transaktionen, Blockgeschäfte oder jeden Handelsplan, der mit der SEC-Regel 10b5-1 konform ist, durchgeführt werden. Der Zeitpunkt und der Umfang der Rückkäufe hängen von Faktoren wie der Aktienverfügbarkeit, den Marktbedingungen, dem Handelspreis, alternativen Kapitalverwendungen und der finanziellen Leistung des Unternehmens ab. Käufe auf dem offenen Markt werden den Regeln der SEC 10b-18 und anderen gesetzlichen Anforderungen gerecht.
CEO William P. Taylor äußerte seine Zufriedenheit über die starke Kapitalposition des Unternehmens, die diese Aktienrückkaufinitiative ermöglicht.
- Adoption of initial stock repurchase program for up to 10% of outstanding shares
- Strong capital position allowing for share buybacks
- Potential increase in shareholder value through reduced share count
- Flexibility in repurchase methods and timing
- Potential reduction in available capital for other investments or growth opportunities
- No guarantee of completing the full repurchase program
Insights
SR Bancorp's announcement of a 10% stock repurchase program signals confidence in its financial health and commitment to shareholder value. This move, coming just a year after their IPO, is strategically timed to potentially boost stock price and earnings per share. The flexibility in execution - open market, private transactions, or block trades - allows for adaptive implementation. However, investors should note that the lack of a specified timeframe or price range for repurchases introduces uncertainty. The program's impact will depend on market conditions and the company's discretion in execution. While this can be seen as a positive signal, it's important to consider how this capital allocation strategy aligns with the bank's growth plans and regulatory capital requirements.
This repurchase program reflects a broader trend in the banking sector, where institutions are leveraging strong capital positions post-pandemic. For SR Bancorp, a relatively new public entity, this move could be seen as a proactive step to manage stock volatility and potentially increase investor confidence. The
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 timing and amount of any repurchases will depend on a number of factors, including 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 made in accordance with Rule 10b-18 of the Securities and Exchange Commission and other applicable legal requirements. The Company is not obligated to repurchase any particular number of shares or any shares in any specific time period.
William P. Taylor, Chief Executive Officer of SR Bancorp, Inc said: "We are pleased to have a strong capital position giving us the ability to purchase our common stock."
About SR Bancorp, Inc.
SR Bancorp, Inc. is the holding company for Somerset Regal Bank, a full-service
Forward Looking Statements
Certain statements contained herein are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act") and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements, which are based on certain current assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of the words "may," "will," "should," "could," "would," "plan," "potential," "estimate," "project," "believe," "intend," "anticipate," "expect," "target" and similar expressions. Forward-looking statements are based on current beliefs and expectations of management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. Certain factors that could cause actual results to differ materially from expected results include increased competitive pressures, changes in the interest rate environment, inflation, general economic conditions or conditions within the securities markets, our ability to successfully integrate acquired operations and realize the expected level of synergies and cost savings, real estate market values in the Bank's lending area changes in the quality of our loan and security portfolios, increases in non-performing and classified loans, economic assumptions or changes in our methodology that may impact our allowance for credit losses calculation, changes in liquidity, including the size and composition of our deposit portfolio and the percentage of uninsured deposits in the portfolio, the availability of low-cost funding, monetary and fiscal policies of the
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SOURCE SR Bancorp, Inc.
FAQ
How many shares does SR Bancorp (SRBK) plan to repurchase in its new program?
When did SR Bancorp (SRBK) complete its stock offering before announcing this repurchase program?
What methods will SR Bancorp (SRBK) use to repurchase its shares?
Is SR Bancorp (SRBK) obligated to repurchase a specific number of shares?
