North Penn Bancorp, Inc. (fka NPBP)

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North Penn Bancorp, Inc. Announces Stock Repurchase Authorization
May 4, 2009 2:17:00 PM


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View Additional ProfilesSCRANTON, Pa., May 4 /PRNewswire-FirstCall/ -- North Penn Bancorp, Inc. (the "Company") (OTC Bulletin Board: NPBP) announced today that the Company's Board of Directors has authorized the extension of its existing repurchase program, under which the Company has 29,657 shares remaining to be repurchased, and the repurchase of up to 142,341 shares of the Company's outstanding common stock, or approximately 10% of outstanding shares.


The current repurchase authorization will remain in effect until all shares have been repurchased or until the Company terminates the authorization. Purchases under the program will be conducted solely through a Rule 10b5-1 repurchase plan with Stifel, Nicolaus & Company, Incorporated and will be based upon the parameters of the Rule 10b5-1 repurchase plan. The Rule 10b5-1 repurchase plan allows the Company to repurchase its shares during periods when it would normally not be active in the market due to its internal trading blackout period.


North Penn Bank is headquartered in Scranton, Pennsylvania and operates through five banking offices in Scranton, Stroudsburg, Clarks Summit and Effort, Pennsylvania.


SOURCE North Penn Bancorp, Inc.



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Frederick L. Hickman
President and CEO
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