OTTAWA BANCORP, INC. ANNOUNCES COMPLETION OF STOCK REPURCHASE PROGRAM
Rhea-AI Summary
Ottawa Bancorp (OTCQX: OTTW) has announced the completion of its previously announced stock repurchase program. The company successfully repurchased 127,332 shares of its outstanding common stock at an average price of $13.51 per share. The buyback was executed through OSB Community Bank, Ottawa Bancorp's holding company.
Positive
- Completed stock repurchase program of 127,332 shares
- Average repurchase price of $13.51 per share indicates company's commitment to shareholder value
- Buyback reduces shares outstanding, potentially increasing earnings per share
Negative
- Cash outflow of approximately $1.72 million for share repurchases
News Market Reaction
On the day this news was published, OTTW declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
OTTAWA, Ill., Dec. 20, 2024 (GLOBE NEWSWIRE) -- Ottawa Bancorp, Inc. (OTCQX: OTTW) (the “Company”), the holding company for OSB Community Bank, announced today that the Company has completed its previously announced stock repurchase program. Under the program, the Company repurchased 127,332 shares of its outstanding common stock at an average price of
About Ottawa Bancorp, Inc.
Ottawa Bancorp, Inc. is the holding company for OSB Community Bank which provides various financial services to individual and corporate customers in the United States. OSB Community Bank offers various deposit accounts, including checking, money market, regular savings, club savings, certificates of deposit, and various retirement accounts. Its loan portfolio includes one-to-four family residential mortgage, multi-family and non-residential real estate, commercial, and construction loans as well as auto loans and home equity lines of credit. OSB Community Bank was founded in 1871 and is headquartered in Ottawa, Illinois. For more information about the Company and OSB Community Bank, please visit www.myosb.bank.
FAQ
How many shares did Ottawa Bancorp (OTTW) repurchase in its completed buyback program?
What was the average price per share in OTTW's 2024 stock repurchase program?
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