State Investors Bancorp, Inc.
(the "Company") SIBC, the holding company of State-Investors Bank,
today announced that its Board of Directors approved the Company's first stock
repurchase program following State-Investors Bank's mutual to stock conversion
completed on July 6, 2011. The repurchase program provides for the repurchase
of up to 5% of the Company's outstanding shares, or 145,475 shares of common
stock. The shares may be purchased in the open market or in privately
negotiated transactions from time to time depending upon market conditions and
other factors. The repurchase program will commence no earlier than two
business days after the release of earnings for the June 30, 2012 quarter and
does not have an expiration date. Previously on January 24, 2012, the Company
announced that in order to fund the 2012 Recognition and Retention Plan, the
related trust may purchase up to 116,380 shares of the Company's common stock
in the open market or from private sources. As of the date hereof, the Company
has purchased 18,850 shares for the Recognition and Retention Plan Trust.
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