CMS Bancorp (CMSB) Announces Application to Participate in the Treasury 'TARP' Program
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CMS Bancorp, Inc. (Nasdaq: CMSB) parent of Community Mutual Savings Bank, announced that the Company's Board of Directors has approved the application filing for $3.2 million of preferred stock funding under the U.S. Treasury Department Emergency Economic Stabilization Act and a second 5% Stock Repurchase Plan which authorizes the Company to buy back up to 93,715 shares of the outstanding stock of the Company. The buy back will be administered as a 10b5-1 plan by Stifel Nicolaus, the Company's investment banker; however, there is no guarantee as to the exact number of shares which may be repurchased by the Company or the timing of any such repurchases.
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