SSB Bancorp, Inc. Continues Authorized Stock Repurchase Program
SSB Bancorp (OTCQX:SSBP) has announced the continuation of its stock repurchase program that was initially authorized in March 2024.
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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
Details
News Market Reaction – SSBP
The recorded move for SSBP in the trading session of this news was -0.79%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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
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
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