American Bancorp of New Jersey, Inc. Announces Stock Repurchase Program
April 30 2007 - 10:30AM
Business Wire
American Bancorp of New Jersey, Inc. (NASDAQ: ABNJ) (the Company),
holding company of American Bank of New Jersey (the Bank),
announced its intention today to repurchase up to 5% of its
outstanding shares in the open market or in privately negotiated
transactions. These shares will be purchased from time to time
depending upon market conditions. Fred Kowal, President and Chief
Operating Officer of the Company, indicated that the Board of
Directors approved the repurchase program in view of the current
price level of the Company's common stock and the strong capital
position of the Company's subsidiary, American Bank of New Jersey.
Mr. Kowal stated: "We believe that the repurchase of our shares
represents an attractive investment opportunity which will benefit
the Company and our stockholders." As of March 31, 2007, the
Company had consolidated total assets of $554.3 million and
stockholders' equity of $108.9 million. The Bank is a federally
chartered stock savings bank which conducts business from its main
office in Bloomfield, New Jersey and two branch offices in Cedar
Grove and Verona, New Jersey. The foregoing information contains
forward-looking statements concerning our plans, objectives,
expectations, estimates and intentions. 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. We do not
undertake, and specifically disclaim, any obligation to update any
forward-looking statement, whether written or oral, that may be
made from time to time by or on behalf of us.
American Bancorp N J (MM) (NASDAQ:ABNJ)
Historical Stock Chart
From Jun 2024 to Jul 2024
American Bancorp N J (MM) (NASDAQ:ABNJ)
Historical Stock Chart
From Jul 2023 to Jul 2024