ASHEVILLE, N.C., July 14, 2016 /PRNewswire/ -- ASB Bancorp,
Inc. (the "Company") (NASDAQ GM: ASBB) announced today that the
Company completed its repurchase of 200,000 shares of its
outstanding common stock under the repurchase program previously
announced on July 1, 2016. The
repurchase program was approved by the Company's Board of
Directors, whereby the Company could repurchase up to 200,000
shares of its outstanding common stock as and when deemed
appropriate by management and under any plan that may be deployed
in accordance with Rule 10b5-1 of the Securities Exchange Act of
1934. A Rule 10b5-1 repurchase plan allowed the Company to
repurchase its shares during a period when it would normally not be
active in the market due to its internal trading blackout period.
The repurchase program totaling 200,000 shares was completed under
Rule 10b5-1 on July 11, 2016 at an
average price of $24.62 per share.
Following the completion of the repurchase, the Company had
3,787,322 shares outstanding.
ASB Bancorp is the parent company of Asheville Savings Bank,
S.S.B., a North Carolina chartered
stock savings bank offering traditional financial services through
thirteen full-service banking centers located in Buncombe, Madison, McDowell, Henderson, and Transylvania counties in Western North Carolina and a loan production
office in Charlotte, North
Carolina. Originally chartered in 1936 and headquartered in
Asheville, North Carolina,
Asheville Savings Bank is locally managed with a focus on fostering
strong relationships with its individual and business customers,
its employees and the communities it serves.
Contact:
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Suzanne S.
DeFerie
|
|
President and Chief
Executive Officer
|
|
(828)
254-7411
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SOURCE ASB Bancorp, Inc.