Hopfed Bancorp (HFBC) Announces 300K Share Buyback

HopFed Bancorp, Inc. (NASDAQ: HFBC) (the “Company”), the holding company for Heritage Bank USA, Inc. (“Heritage”), today reported that its Board of Directors approved a new stock repurchase program of up to 300,000 shares of the Company’s common stock at a price not to exceed tangible book value. The new stock repurchase program will commence immediately and will expire on December 31, 2017.

On October 31, 2014, the Company announced that its Board of Directors had authorized a 300,000 share repurchase program over a period of twelve months. Furthermore, the Company could purchase up to an additional 1.0 million shares of common stock that could be purchased for general corporate purchases and the establishment of employee benefit plan. At October 31, 2015, the Company purchased 600,000 shares of common stock for its Employee Stock Ownership Plan and 260,770 shares under its general repurchase plan. This stock repurchase authorization expired on October 31, 2015.

The Company will conduct repurchases through various means, including, without limitation, in the open market or in privately negotiated transactions that may be made from time to time, as determined by the Company’s management, depending on market conditions and other factors and in compliance with applicable federal securities laws. There is no guarantee as to the exact number of shares to be repurchased by the Company. The share repurchase program does not obligate the Company to acquire a specific number of shares in any period and may be modified, suspended, extended or discontinued at any time, without prior notice.

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