SI Financial Group, Inc. Buyback
OLI recorded this information on 3/12/2015
SI Financial Group, Inc.
Share Amount Authorized:
SI Financial Group, Inc., (the "Company") (Nasdaq:SIFI), the holding company for Savings Institute Bank and Trust Company, announced today that it has authorized a stock repurchase program to acquire up to 630,000 shares or approximately 5% of the Company's outstanding common stock. 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. There is no guarantee as to the exact number of shares to be repurchased by the Company.
SI Financial Group is a bank holding company. Through its subsidiary, Savings Institute Bank and Trust Company (the Bank), Co. provides a range of financial services to consumers and businesses in its market area, including life insurance and annuities. The Bank accepts deposits from the general public and uses those funds to originate one- to four-family residential, multi-family and commercial real estate, commercial business and consumer loans. The Bank also purchases commercial business loans, including loans fully guaranteed by the Small Business Administration and the U.S. Department of Agriculture. In addition, the Bank provides remote capture products and money market accounts.
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Strong Buy (4.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data;
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