Peoples Federal Bancshares Authorizes an Increase to Stock Repurchase Program to up to 339K Shares

Peoples Federal Bancshares, Inc. PEOP, the holding company for Peoples Federal Savings Bank, announced today that its Board of Directors authorized an increase in the number of shares that may be repurchased pursuant to the Company's stock repurchase plan that was previously announced on July 20, 2011. Under the newly expanded repurchase plan, the Company is authorized to repurchase up to an additional 5% of its issued and outstanding shares, or up to approximately 339,221 shares. As of February 1, 2012, the Company had repurchased 357,075 of its shares under the repurchase plan. The repurchase program permits shares to be repurchased in open market or private transactions, through block trades, and pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission.