Dec 7 - Athens (Tenn.) Bancshares Corp. (Nasdaq:AFCB), the holding company for Athens Federal Community Bank, has authorized a fourth stock repurchase program. The new program authorizes the repurchase of up to 118,478 shares, or 5 percent, of the company's outstanding common stock. Repurchases will be conducted through open market purchases, which may include purchases under a trading plan adopted pursuant to Securities and Exchange Commission Rule 10b5-1, or through privately negotiated transactions. Repurchases will be made from time to time depending on market conditions and other factors. There is no guarantee as to the exact number of shares to be repurchased by the Company. The company's third stock repurchase program, which authorized the repurchase of up to 124,714 shares of company common stock, was completed on Nov. 6, 2012.
Athens Bancshares Corp. is the parent holding company of Athens Federal Community Bank. Athens Federal Community Bank, a federally chartered, FDIC-insured savings bank, was organized in 1934. The bank is headquartered in Athens, Tenn., and provides financial services to individuals, families and businesses through its seven banking offices located in southeast Tennessee.