Hampden Bancorp, Inc. Announces Authorization of an Eighth Stock Repurchase
SPRINGFIELD, Mass. -- June 7, 2013
Hampden Bancorp, Inc. (the “Company”) (NASDAQ - HBNK), which is the holding
company for Hampden Bank (the “Bank”), announced that its Board of Directors
authorized an eighth stock repurchase program (the “Stock Repurchase Program”)
for the purchase of up to 275,525 shares, or approximately 5%, of the
Company’s outstanding common stock. The Company will commence its eighth stock
repurchase program immediately upon the completion of its seventh repurchase
program, announced on August 7, 2012, which has 155,399 shares remaining. Any
repurchases under the Stock Repurchase Program will be made through open
market purchase transactions from time to time. The amount and exact timing of
any repurchases will depend on market conditions and other factors, at the
discretion of management of the Company, and it is intended that all purchases
under the Stock Repurchase Program will be completed within twelve months
after its commencement. There is no assurance that the Company will repurchase
shares during any period.
Established in 1852, Hampden Bank is a full service community bank serving the
families and businesses in and around Hampden County. The Bank has ten office
locations in Springfield, Agawam, Longmeadow, West Springfield, Wilbraham, and
Indian Orchard. Hampden Bank offers customers the latest in internet banking,
including on-line banking and bill payment services.
Certain statements herein constitute “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements are based on the beliefs and expectations of management, as well as
the assumptions made using information currently available to management.
Because these statements reflect the views of management concerning future
events, these statements involve risks, uncertainties and assumptions. As a
result, actual results may differ from those contemplated by these statements.
Forward-looking statements can be identified by the fact that they do not
relate strictly to historical or current facts. They often include words like
“believe”, “expect”, “anticipate”, “estimate”, and “intend” or future or
conditional verbs such as “will”, “would”, “should”, “could”, or “may.”
Certain factors that could have a material adverse affect on the operations of
the Bank include, but are not limited to, increased competitive pressure among
financial service companies, national and regional economic conditions,
changes in interest rates, changes in consumer spending, borrowing and savings
habits, legislative and regulatory changes, adverse changes in the securities
markets, inability of key third-party providers to perform their obligations
to Hampden Bank, and changes in relevant accounting principles and guidelines.
Additionally, other risks and uncertainties are described in the Company’s
Annual Report on Form 10-K filed with the Securities and Exchange Commission
(the “SEC”) which is available through the SEC’s website at www.sec.gov. These
risks and uncertainties should be considered in evaluating forward-looking
statements and undue reliance should not be placed on such statements. Readers
are cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date of this report. The Company disclaims any
intent or obligation to update any forward-looking statements, whether in
response to new information, future events or otherwise.
Hampden Bancorp, Inc.
Robert A. Massey, 413-452-5150
CFO, Treasurer, and Senior Vice President
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