PITTSBURGH, PA / ACCESSWIRE / October 2, 2023 / SSB Bancorp, Inc. (OTCQX:SSBP) (the "Company"), the holding company for SSB Bank, announced today that it has authorized a program to repurchase up to 49,489 shares of its outstanding common stock, which represents approximately 5% of the shares currently outstanding and owned by stockholders other than SSB Bancorp, MHC.
The Company is waiting for final approval from the Federal Reserve to commence with the program.
The Company intends to conduct any repurchases through open market purchases, including by means of a trading plan adopted under Securities and Exchange Commission Rule
10b5-1, or in privately negotiated transactions, subject to market conditions and other factors.
There is no guarantee as to the number of shares that the Company may repurchase.
About SSB Bank
SSB Bank is a Pennsylvania-chartered stock savings bank and the wholly owned subsidiary of SSB Bancorp, Inc. SSB Bank serves individuals and small businesses in Allegheny
County and adjacent areas from its main office and branch office located in Pittsburgh.
Contact:
J. Daniel Moon, IV
President and Chief Executive Officer
(412) 837-6955
SOURCE: SSB Bancorp, Inc.