First Connecticut (FBNK) Approves 10% Common Buyback Plan
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First Connecticut Bancorp, Inc. (Nasdaq: FBNK), announced that it has adopted and received regulatory approval to repurchase up to 1,788,020 shares, or 10% of the current outstanding shares. Repurchases may be made from time to time in open-market or negotiated transactions as deemed appropriate by the Company and will depend on market conditions. Open market purchases will be conducted in accordance with the limitations set forth in Rule 10b-18 of the Securities and Exchange Commission and other applicable legal requirements. Any repurchased shares will be held as treasury stock and will be available for general corporate purposes, including the funding of the Company's equity incentive plan, if approved by shareholders at the Company's 2012 Annual Meeting of Shareholders on July 11, 2012.
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