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8-K - FORM 8-K - LegacyTexas Financial Group, Inc. | c21967e8vk.htm |
Contact: Mark Hord ViewPoint Financial Group, Inc. 972-578-5000, Ext. 7440 |
FOR IMMEDIATE RELEASE August 26, 2011 |
ViewPoint Financial Group, Inc. Announces Stock Repurchase Program
PLANO, Texas, August 26, 2011 ViewPoint Financial Group, Inc. (NASDAQ:VPFG) (the Company), the
holding company for ViewPoint Bank, today announced its intention to repurchase up to 5% of its
total common shares outstanding, or approximately 1,741,975 shares, in the open market, based on
prevailing market prices, over a period beginning on August 30, 2011, continuing until the earlier
of the completion of the repurchase or the next twelve months, depending upon market conditions.
The Board of Directors of the Company also authorized management to enter into a trading plan with
Sandler ONeill & Partners, LP in accordance with Rule 10b5-1 of the Securities Exchange Act of
1934, as amended (the Act), to facilitate repurchases of its common stock pursuant to the above
mentioned stock repurchase program (the Rule 10b5-1 plan). The Rule 10b5-1 plan would allow the
Company to execute trades during periods when it would ordinarily not be permitted to do so because
it may be in possession of material non-public information, because of insider trading laws or
self-imposed trading blackout periods. Under the Rule 10b5-1 plan, Sandler ONeill & Partners, LP
would have the authority, under the prices, terms and limitations set forth in the Rule 10b5-1
plan, including compliance with Rule 10b-18 of the Act, to repurchase shares on the Companys
behalf.
ViewPoint Financial Group, Inc. is the holding company for ViewPoint Bank. ViewPoint Bank operates
25 community bank offices and 12 loan production offices. For more information, please visit
www.viewpointbank.com or www.viewpointfinancialgroup.com.
When used in filings by the Company with the Securities and Exchange Commission (the SEC) in the
Companys press releases or other public or shareholder communications, and in oral statements made
with the approval of an authorized executive officer, the words or phrases will likely result,
are expected to, will continue, is anticipated, estimate, project, intends or similar
expressions are intended to identify forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and
uncertainties, including, among other things, changes in economic conditions, legislative changes,
changes in policies by regulatory agencies, fluctuations in interest rates, the risks of lending
and investing activities, including changes in the level and direction of loan delinquencies and
write-offs and changes in estimates of the adequacy of the allowance for loan losses, the Companys
ability to access cost-effective funding, fluctuations in real estate values and both residential
and commercial real estate market conditions, demand for loans and deposits in the Companys market
area, the industry-wide decline in mortgage production, competition, changes in managements
business strategies and other factors set forth under Risk Factors in the Companys Form 10-K, that
could cause actual results to differ materially from historical earnings and those presently
anticipated or projected. The Company wishes to advise readers that the factors listed above could
materially affect the Companys financial performance and could cause the Companys actual results
for future periods to differ materially from any opinions or statements expressed with respect to
future periods in any current statements.
The Company does not undertake and specifically declines any obligation to publicly release
the result of any revisions which may be made to any forward-looking statements to reflect events
or circumstances after the date of such statements or to reflect the occurrence of anticipated or
unanticipated events.