MUNCY, Pa.--(BUSINESS WIRE)--Robert Glunk, President & CEO of Muncy Bank Financial, Inc. (OTC: MYBF) has announced that the Board of Directors authorized and approved the extension of the company’s stock repurchase program for the repurchase of up to 5 percent of the Company’s outstanding common stock.
Repurchases will be made from time to time in open market purchases, subject to the availability of shares, general market conditions, the trading price of the stock, alternative uses of capital, and the Company’s financial performance. The repurchased shares will become treasury stock.
The authorization of the repurchase program reflects management’s belief that the current price of the Company’s common stock does not adequately reflect the Company’s long-term business and earnings prospects. Stock repurchases will be made at the prices and in amounts determined by the Company.
About Muncy Bank Financial, Inc.
Muncy Bank Financial, Inc. is the bank holding company for The Muncy Bank & Trust Company. The Muncy Bank & Trust Company serves customers through their retail banking, commercial banking, financial services and trust departments. Muncy Bank offices are located in the communities of Muncy, Clarkstown, Hughesville, Montoursville, Dewart, Avis and Linden.