LOGANSPORT, Ind.--(BUSINESS WIRE)--
Logansport Financial Corp. (OTCBB:LOGN), an Indiana corporation which is
the holding company for Logansport Savings Bank, FSB, a state commercial
bank located in Logansport, Indiana, announces that Logansport Financial
Corp. has declared a quarterly cash dividend of $.16 on each share of
its common stock for the third quarter of 2014. The dividend is payable
on October 15, 2014 to the holders of record on September 15, 2014.
Logansport Financial Corp. (the “Corporation”) also announced
today that the Board of Directors has approved the repurchase, from time
to time, on the open market of up to 65,441 of the Corporation’s
outstanding shares of common stock, without par value (“Common Stock”),
or approximately 10% of its outstanding shares. Such purchases will be
made subject to market conditions in open market or block transactions.
Repurchases may begin as early as August 13, 2014, as the required
regulatory clearances have been received.
According to Arden L. Cramer, President of the Corporation, the Board
believes that the Corporation’s shares are currently undervalued by the
market and that open market purchases will have the effect of enhancing
the book value per share and the potential for growth in earnings per
share of the Corporation’s remaining outstanding shares.
The foregoing discussion contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995, which
involve a number of risks and uncertainties. A number of factors could
cause results to differ materially from the objectives and estimates
expressed in such forward-looking statements. These factors include, but
are not limited to, anticipated market prices and prices actually paid
by the Corporation for its shares pursuant to the stock repurchase
program announced herein. These factors should be considered in
evaluating any forward-looking statements, and undue reliance should not
be placed on such statements. The Corporation does not undertake and
specifically disclaims any obligation to update any forward-looking
statements to reflect occurrence of anticipated or unanticipated events
or circumstances after the date of such statements.
Logansport Financial Corp.
Chad Higgins, Chief Financial Officer,
Source: Logansport Financial Corp.