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Northwest Bancshares Inc Expands Existing Repurchase Program To Include An Additional 5,000,000 Shares of Company's Common Stock

Thursday, 13 Dec 2012 11:23am EST 

Northwest Bancshares Inc announced that Board of Directors has authorized expanding its existing stock repurchase program to repurchase 5,000,000 additional shares, or approximately 5.2%, of the Company's outstanding common stock. The existing stock repurchase program was initiated on September 26, 2011 and authorized the repurchase of 4,750,000 shares of common stock, of which approximately 2,600,000 shares remain to be repurchased. The Company has repurchased approximately 16,500,000 shares, or approximately 15%, of its common stock, since completing its second step conversion on December 18, 2009. The stock repurchase program may be carried out through open market purchases, block trades, negotiated private transactions and pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission. The stock may be repurchased on an ongoing basis and will be subject to the availability of stock, general market conditions, the trading price of the stock, alternative uses for capital, and the Company's financial performance. Any repurchased shares will be held as authorized but unissued shares and will be available for general corporate purposes. 

Company Quote

0.08 +0.54%
17 Apr 2014