April 1 - The board of directors of Simplicity Bancorp Inc. (Nasdaq:SMPL), the holding company for Simplicity Bank, Covina, Calif., has authorized the fourth stock repurchase program pursuant to which the company intends to repurchase up to 5 percent of its issued and outstanding shares on completion of the third stock repurchase program, or up to approximately 413,081 shares. The timing of the repurchases will depend on certain factors, including but not limited to, market conditions and prices, the company's liquidity requirements and alternative uses of capital. The stock repurchase program may be carried out through open-market purchases, block trades, negotiated private transactions and pursuant to a trading plan that may be adopted in accordance with Rule 10b5-1 of the SEC's rules. Any repurchased shares will be available for general corporate purposes.
Since Nov. 30, 2011, the company has repurchased 1,347,222 shares at prices ranging from $12 to $15.44 per share with an average price of $14.29 per share. There are 24,145 shares remaining to be repurchased under the previous repurchase programs.
Simplicity Bancorp Inc. is the parent corporation for Simplicity Bank, a federally chartered savings bank headquartered in Covina, Calif. The bank operates three full-service branches and five financial service centers in California, as well as a statewide network of 57 ATMs. Simplicity Bancorp Inc. stock trades on NASDAQ under the "SMPL" symbol. For additional information, visit www.simplicitybancorp.com or www.simplicitybank.com.