BV Financial, Inc. (BVFL.OB) announced that the company has entered into a Rule 10b5-1 stock repurchase plan with Sandler O’Neil & Partners. According to this agreement, Sandler O’Neill will repurchase up to 40,254 shares on behalf of the Company as part of the Company’s previously announced stock repurchase plan. Purchases by Sandler O’Neill will continue until February 22, 2008. To date, Sandler O’Neill has purchased 7,500 shares under the Rule 10b5-1 repurchase plan.
This Rule 10b5-1 repurchase plan will allow the company to repurchase common stock during time periods where the company would not normally be active in the market due to its internal trading blackout periods.
BV Financial, Inc. is the parent company of Bay-Vanguard Federal Savings Bank. Bay-Vanguard Federal Savings Bank is headquartered in Baltimore, Maryland with four other branches in the Baltimore metropolitan area. The Bank is a full service community-oriented financial institution dedicated to serving the financial service needs of consumers and businesses within its market area.
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