Simplicity Bancorp Announces Sixth Stock Repurchase Program
Simplicity Bancorp (Nasdaq: SMPL), the holding company for Simplicity Bank (the "Bank"), announced today that its Board of Directors authorized the sixth stock repurchase program pursuant to which the Company intends to repurchase up to 5% of its issued and outstanding shares, or up to approximately 374,393 shares. The timing of the repurchases will depend on certain factors, including but not limited to, market conditions and prices, the Company's liquidity requirements and alternative uses of capital. The stock repurchase program may be carried out through open-market purchases, block trades, negotiated private transactions and pursuant to a trading plan that may be adopted in accordance with Rule 10b5-1 of the SEC's rules.
Since November 30, 2011, the Company has repurchased 2,101,610 shares at prices ranging from $12.00 to $16.40 per share with an average price of $14.78 per share. There are 76,841 shares remaining to be repurchased under the previous repurchase programs.
Simplicity Bancorp, Inc. is the parent corporation for Simplicity Bank, a federally chartered savings bank headquartered in Covina, California. The Bank operates seven branches in California, as well as a statewide network of 45 ATMs.
Simplicity Bancorp, Inc. stock trades on NASDAQ under the SMPL symbol. For additional information, visit www.simplicitybancorp.com or www.simplicitybank.com.
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