SSB Bancorp, Inc. Continues Authorized Stock Repurchase Program

Rhea-AI Summary

SSB Bancorp (OTCQX:SSBP) has announced the continuation of its stock repurchase program that was initially authorized in March 2024. The program originally allowed for the repurchase of up to 49,489 shares of outstanding common stock, representing approximately 5% of shares owned by stockholders other than SSB Bancorp, MHC. Currently, 11,750 shares remain available for repurchase under the program.

The company plans to execute the repurchases through open market purchases, including via a trading plan under SEC Rule 10b5-1, or through privately negotiated transactions, subject to market conditions and other factors.

Positive

• Stock repurchase program demonstrates company's confidence in its financial position
• 11,750 shares still available for repurchase, providing continued support for stock price
• Flexible repurchase approach through both open market and private transactions

Negative

• Relatively small repurchase program size at only 5% of public float
• Program execution subject to market conditions, which may limit actual repurchases

PITTSBURGH, PA / ACCESS Newswire / May 21, 2025 / SSB Bancorp, Inc. (OTCQX:SSBP) (the "Company"), the holding company for SSB Bank, announced in March 2024 that it had authorized a program to repurchase up to 49,489 shares of its outstanding common stock, which represented approximately 5% of the shares that were outstanding and owned by stockholders other than SSB Bancorp, MHC, at that time. There are still 11,750 shares authorized to be repurchased under the program.

The Company intends to conduct any repurchases through open market purchases, including by means of a trading plan adopted under Securities and Exchange Commission Rule 10b5-1, or in privately negotiated transactions, subject to market conditions and other factors.

About SSB Bank

SSB Bank is a Pennsylvania-chartered stock savings bank and the wholly owned subsidiary of SSB Bancorp, Inc. SSB Bank serves individuals and small businesses in Allegheny County and adjacent areas from its main office and branch office located in Pittsburgh.

Contact:
J. Daniel Moon, IV
President and CEO
412-837-6955

SOURCE: SSB Bancorp, Inc.

View the original press release on ACCESS Newswire

FAQ

How many shares remain in SSBP's stock repurchase program as of May 2025?

As of May 2025, 11,750 shares remain authorized to be repurchased under SSB Bancorp's stock repurchase program.

What is the total size of SSB Bancorp's (SSBP) stock repurchase program?

The total program size is 49,489 shares, representing approximately 5% of outstanding shares owned by stockholders other than SSB Bancorp, MHC.

When did SSBP initially authorize its current stock repurchase program?

SSB Bancorp initially authorized the current stock repurchase program in March 2024.

How will SSB Bancorp (SSBP) execute its share repurchase program?

The company will conduct repurchases through open market purchases, including via SEC Rule 10b5-1 trading plans, or through privately negotiated transactions, subject to market conditions.