Mid Penn Bancorp, Inc. Stock Repurchase Program Terminated
June 30 2008 - 2:05PM
Business Wire
A Mid Penn Bancorp, Inc. (AMEX:MBP) Stock Repurchase Program
approved by the Board of Directors in September 2005 will terminate
on June 30, 2008. The program allowed for purchases totaling up to
250,000 shares. The Company�s open-market purchases have
accumulated 34,504 shares, or just 13.8% allowable under the
program, during the 33 months since its inception. Despite a weak
general market, Mid Penn Bancorp�s stock price reached 52-week
highs during the past week. Due to the limited trading volume,
compounded by the recent strong share price, Mid Penn Bancorp�s
Board of Directors and management decided at the June 25, 2008
Board Meeting to end this program effective June 30, 2008, and
directed management to design a new stock repurchase program,
focusing on privately negotiated blocks of stock, to be evaluated
in the coming months. Mid Penn Bancorp, Inc., through its
subsidiary Mid Penn Bank, operates 15 offices in Dauphin,
Northumberland, Schuylkill and Cumberland Counties. Mid Penn Bank
is a full-service banking institution that has not participated in
any sub-prime lending activities. For more information about Mid
Penn Bancorp, visit www.midpennbank.com. This press release may
contain forward-looking statements as defined in the Private
Securities Litigation Reform Act of 1995. Actual results and trends
could differ materially from those set forth in such statements due
to various factors. Such factors include the possibility that
increased demand or prices for the Corporation�s financial services
and products may not occur, changing economic and competitive
conditions, technological developments, and other risks and
uncertainties, including those detailed in the Corporation�s
filings with the Securities and Exchange Commission.
Mid Penn Bancorp (AMEX:MBP)
Historical Stock Chart
From Sep 2024 to Oct 2024
Mid Penn Bancorp (AMEX:MBP)
Historical Stock Chart
From Oct 2023 to Oct 2024