OTTAWA BANCORP, INC. APPROVES STOCK REPURCHASE PROGRAM
20 11월 2020 - 6:01AM
Ottawa Bancorp, Inc. (OTCQX: OTTW) (the “Company”), the holding
company for Ottawa Savings Bank, FSB (the “Bank”), announced today
that it has approved a stock repurchase program authorizing the
purchase of 297,047 shares, representing 10% of the Company’s
outstanding shares of common stock. As of September 30, 2020,
the Company has repurchased a total of 524,341 shares of its common
stock at an average price of $12.93 per share as part of the stock
repurchase program approved on November 20, 2019 and its previous
stock repurchase programs that expired in November 2018 and
November 2019. Repurchases will be conducted through open
market purchases, which may include purchases under a trading plan
adopted pursuant to Securities and Exchange Commission Rule 10b5-1,
or through privately negotiated transactions. Repurchases
will be made from time to time depending on market conditions and
other factors.
About Ottawa Bancorp, Inc.
Ottawa Bancorp, Inc. is the
holding company for Ottawa Savings Bank, FSB which provides various
financial services to individual and corporate customers in the
United States. The Bank offers various deposit accounts, including
checking, money market, regular savings, club savings, certificate,
and various retirement accounts. Its loan portfolio includes
one-to-four family residential mortgage, multi-family and
non-residential real estate, commercial, and construction loans as
well as auto loans and home equity lines of credit. Ottawa Savings
Bank, FSB was founded in 1871 and is headquartered in Ottawa,
Illinois. For more information about the Company and the Bank,
please visit www.ottawasavings.com.
Cautionary Statement Regarding
Forward-Looking Statements
The foregoing material may
contain forward-looking statements concerning the financial
condition, results of operations and business of the
Company. We caution that such statements are subject to
a number of uncertainties and actual results could differ
materially and, therefore, readers should not place undue reliance
on any forward-looking statements. The Company does not
undertake, and specifically disclaims, any obligation to publicly
release the results of any revisions that may be made to any
forward-looking statements to reflect the occurrence of anticipated
or unanticipated events or circumstances after the date of such
statements.
Contact:
Craig M. Hepner
President and Chief Executive Officer
(815) 366-5437
Ottawa Savings Bancorp (NASDAQ:OTTW)
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Ottawa Savings Bancorp (NASDAQ:OTTW)
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