SP Bancorp, Inc. Buyback
OLI recorded this information on 8/7/2013
SP Bancorp, Inc.
Share Amount Authorized:
SP Bancorp, Inc. (Nasdaq:SPBC) (the "Company"), the holding company for SharePlus Federal Bank (the "Bank"), today announced financial results for the Company's second quarter ended June 30, 2013. The Company also announced that its Board of Directors has authorized a new stock repurchase program up to 5% of the Company's currently outstanding shares, or up to 81,937 shares.
SP Bancorp is a savings and loan holding company. Through its SharePlus Bank subsidiary, Co. is engaged in the acceptance of checking and savings deposits, and investing those deposits in mortgage loans secured by residential real estate, home equity loans and lines of credit, commercial real estate loans, consumer loans and commercial business loans. Co. also provides brokerage services for the purchase and sale of non-deposit investment and insurance products through a third-party brokerage arrangement. Co.'s market area includes the communities in the Dallas-Fort Worth-Arlington metropolitan area. As of Dec 31 2013, Co. had total assets of $304.0 million and deposits of $261.3 million.
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