ViewPoint (VPFG) Restarts 5% Common Buyback Plan
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ViewPoint Financial Group, Inc. (Nasdaq: VPFG) announced that it will resume its existing stock repurchase program under a new trading plan with Sandler O'Neill & Partners, LP in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, to facilitate repurchases of its common stock.
On August 26, 2011, the Company announced its intention to repurchase up to 5% of its total common shares outstanding, or approximately 1,741,975 shares of its common stock, in the open market at prevailing market prices over a period beginning on August 30, 2011, and continuing until the earlier of the completion of the repurchase or the next twelve months, depending upon market conditions. After repurchasing 1,100,100 shares of its common stock, the Company's Rule 10b5-1 plan with Sandler O'Neill & Partners, LP terminated according to its terms on December 8, 2011, upon the announcement of the Company's acquisition of Highlands Bancshares, Inc. in a stock-for-stock transaction. Up to 641,875 shares of common stock remain to be repurchased under the repurchase program.
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On August 26, 2011, the Company announced its intention to repurchase up to 5% of its total common shares outstanding, or approximately 1,741,975 shares of its common stock, in the open market at prevailing market prices over a period beginning on August 30, 2011, and continuing until the earlier of the completion of the repurchase or the next twelve months, depending upon market conditions. After repurchasing 1,100,100 shares of its common stock, the Company's Rule 10b5-1 plan with Sandler O'Neill & Partners, LP terminated according to its terms on December 8, 2011, upon the announcement of the Company's acquisition of Highlands Bancshares, Inc. in a stock-for-stock transaction. Up to 641,875 shares of common stock remain to be repurchased under the repurchase program.
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