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KFED » Topics » K-FED BANCORP COMPLETES STOCK REPURCHASE PROGRAM AND AUTHORIZES NEW STOCK REPURCHASE PROGRAM

This excerpt taken from the KFED 8-K filed Jul 6, 2006.

K-FED BANCORP COMPLETES STOCK REPURCHASE PROGRAM AND AUTHORIZES NEW STOCK REPURCHASE PROGRAM

 

Covina, California – July 5, 2006 – K-Fed Bancorp (NASDAQ: KFED) announced completion of the repurchase of 5% of its outstanding publicly held common stock, or 281,129 shares. The repurchase program was announced on April 27, 2005.

 

The shares were repurchased at prices between $11.30 and $14.25 per share with an average price per share of $13.18.

 

Upon completion of the aforementioned stock repurchase, the Board of Directors authorized an additional stock repurchase program for up to 5% or 267,216, of K-Fed's outstanding shares in the open market, in block trades or in privately negotiated transactions from time to time over a 6 to 12 month period depending on market conditions.

 

K-Fed Bancorp stock trades on NASDAQ under the KFED symbol, for additional information, visit www.k-fed.com or www.kaiserfederal.com.

 

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