ALHAMBRA, Calif.--(BUSINESS WIRE)--TFC Holding Company (OTC: TFCH) announced the successful completion of its tender offer to purchase up to 1,000,000 shares of its outstanding stock at a price of $11.00 per share. As of the tender offer expiration, more than 1,000,000 shares were validly tendered and not properly withdrawn. Shares have been accepted for payment in accordance with the terms of the tender offer, including the pro ration provisions, and TFC Holding Company has promptly paid for all such shares.
The board of TFC Holding Company has also authorized a common stock repurchase program which allows the company to purchase up to 500,000 additional shares of its common stock, on an opportunistic basis, through privately negotiated transactions.
About TFC Holding Company
TFC Holding Company is the parent company of TomatoBank, a greater Los Angeles bank which focuses on value-added customer services and products, not only within Southern California, but also within the global community.
TomatoBank is headquartered in Alhambra with branch offices in Alhambra, Arcadia, Cerritos, City of Industry, Diamond Bar and West Los Angeles.
Forward Looking Statement Disclosure
Certain matters discussed in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based upon current management expectations and, therefore, are subject to certain risks and uncertainties that could cause actual results, performance, or achievements to differ materially from those expressed, suggested, or implied by the forward-looking statements. Forward-looking statements are effective only as of the date that they are made and TFC Holding Company assumes no obligation to update this information.