Citizens Community Bancorp Inc. the Eau Claire-based holding company for Citizens Community Federal, announced today its intention to repurchase up to 10 percent of its outstanding stock shares in the open market or in privately negotiated transactions.
The shares will be purchased periodically time over a 12-month period, depending upon market conditions.
James Cooley, president and chief executive officer of the company, said the board of directors approved the repurchase program in view of the current price level of the company's common stock and the strong capital position of Citizens Community Federal.
"We believe that the repurchase of our shares represents an attractive investment opportunity which will benefit the company and our shareholders," Cooley said.
As of March 31, the company had consolidated total assets of $425.7 million and stockholders' equity of $75.3 million. The Company's stock is traded on the Nasdaq Global Stock Market under the symbol "CZWI."
Eau Claire bank to repurchase stock shares
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