Bank Mutual Corporation (NASDAQ:BKMU) announced that its board of
directors today approved a seventh stock repurchase program whereby the
Company may repurchase up to 1.0 million shares of its common stock,
which amount represents 2.1% of its currently outstanding shares.
Repurchases will be made from time to time and will be effectuated
through open market purchases, unsolicited negotiated transactions, or
in such other manner deemed appropriate by management. The repurchase
program does not specify the timing of purchases or the prices to be
paid. The Company's repurchase activities will take into account SEC
safe harbor rules and guidance for issuer repurchases.
Since its conversion to a fully-shareholder owned company in October
2003, Bank Mutual Corporation has repurchased 33,642,521 shares of its
common stock which reflects the completion of the sixth stock repurchase
program, as amended, of 5.0 million shares.
Bank Mutual Corporation is the fifth largest financial institution
holding company headquartered in the state of Wisconsin and its stock is
quoted on The NASDAQ Global Select MarketSM
under the symbol “BKMU.”
Its subsidiary bank, Bank Mutual, operates 78 offices in the state of
Wisconsin and one office in Minnesota.
Cautionary Statements
The discussions in this news release which are not historical statements
contain forward-looking statements that involve risk and uncertainties.
Statements which are not historical statements include those regarding
possible future stock purchase. There can be no assurance that Bank
Mutual Corporation will, in fact, repurchase shares, nor of the timing,
amounts or pricing of any such repurchases. Also, Bank Mutual Corporation’s
actual future results could affect its ability to repurchase shares.
Factors which could affect future results include changing interest
rates, changes in demand for loans or other services, competition from
other institutions, changes in OTS regulations or interpretations, the
results of our lending activities and loan loss experience, general
economic and political developments, and other factors discussed in our
filings with the Securities and Exchange Commission.
Bank Mutual Corporation
Michael T. Crowley Jr.
Chairman,
President and Chief Executive Officer
414-354-1500
or
Michael
W. Dosland
Senior Vice President and Chief Financial Officer
414-354-1500
