Charter Financial Announces Stock Repurchase Program

Charter Financial Announces Stock Repurchase Program

WEST POINT, Ga., Dec. 19, 2013 (GLOBE NEWSWIRE) -- Charter Financial
Corporation (Nasdaq:CHFN) today announced that its Board of Directors has
adopted a stock repurchase program. Under the repurchase program, the Company
may repurchase up to 571,577 shares of its common stock, or approximately 2.5%
of the current outstanding shares.

Although federal regulations generally prohibit a company from repurchasing
its shares of common stock within one year following a mutual-to-stock
conversion, there is an exception that permits a company to repurchase shares
to fund a restricted stock plan, subject to the receipt of non-objection from
the Board of Governors of the Federal Reserve System (the "FRB"). The Company
has received non-objection from the FRB with respect to the repurchase
program, which is being used to fund grants of restricted stock under the
Company's 2013 Equity Incentive Plan approved by shareholders on December 11,
2013.

The repurchase program permits shares to be repurchased in open market or
private transactions, through block trades, and pursuant to any trading plan
that may be adopted in accordance with Rule 10b5-1 of the Securities and
Exchange Commission.

Repurchases will be made at management's discretion at prices management
considers to be attractive and in the best interests of both the Company and
its shareholders, subject to the availability of stock, general market
conditions, the trading price of the stock, alternative uses for capital, and
the Company's financial performance. Open market purchases will be conducted
in accordance with the limitations set forth in Rule 10b-18 of the Securities
and Exchange Commission and other applicable legal requirements.

The repurchase program may be suspended, terminated or modified at any time
for any reason, including market conditions, the cost of repurchasing shares,
the availability of alternative investment opportunities, liquidity, and other
factors deemed appropriate. These factors may also affect the timing and
amount of share repurchases. The repurchase program does not obligate the
Company to purchase any particular number of shares.

About Charter Financial Corporation

Charter Financial Corporation is a savings and loan holding company and the
parent company of CharterBank, a full-service community bank. On April 8,
2013, Charter Financial completed its conversion and reorganization from the
mutual holding company form of organization to the stock holding company form
of organization. CharterBank is headquartered in West Point, Georgia, and
operates branches in West Central Georgia, East Central Alabama, and the
Florida Gulf Coast. CharterBank's deposits are insured by the Federal Deposit
Insurance Corporation.

Forward-Looking Statements

This release contains "forward-looking statements" that may be identified by
use of such words as "believe," "expect," "anticipate," "should," "planned,"
"estimated," and "potential." Examples of forward-looking statements include,
but are not limited to, estimates with respect to our financial condition and
results of operation and business that are subject to various factors that
could cause actual results to differ materially from these estimates. These
factors include but are not limited to general and local economic conditions;
changes in interest rates, deposit flows, demand for mortgages and other
loans, real estate values, and competition; changes in accounting principles,
policies, or guidelines; changes in legislation or regulation; and other
economic, competitive, governmental, regulatory, and technological factors
affecting our operations, pricing, products, and services. Any or all
forward-looking statements in this release and in any other public statements
we make may turn out to be wrong. They can be affected by inaccurate
assumptions we might make or known or unknown risks and uncertainties.
Consequently, no forward-looking statements can be guaranteed. Except as
required by law, the Company disclaims any obligation to subsequently revise
or update any forward-looking statements to reflect events or circumstances
after the date of such statements or to reflect the occurrence of anticipated
or unanticipated events.

CONTACT: Robert L. Johnson, Chairman & CEO
         Curt Kollar, CFO
         706-645-1391
         bjohnson@charterbank.net or
         ckollar@charterbank.net
        
         At Dresner Corporate Services
         Steve Carr
         312-780-7211
         scarr@dresnerco.com