Chicopee Bancorp, Inc. (Nasdaq Global Market: CBNK) announced today that
the Company’s board of directors has approved
the repurchase for up to 335,000 shares, or approximately 5% of the
Company’s outstanding common stock. The
repurchase of up to 200,000 shares will be conducted solely through a
Rule 10b5-1 repurchase plan with Sterne, Agee & Leach, Inc., based upon
parameters of the Rule 10b5-1 repurchase plan. Repurchased shares will
be held in treasury. This is the third repurchase plan announced since
becoming a public Company in July 2006. The Company’s
second repurchase program was completed on August 8, 2008, under which
353,370 shares were purchased at a total cost of approximately
$4,700,000, or $13.26 per share.
The Rule 10b5-1 repurchase plan allows the Company to repurchase its
shares during periods when it would normally not be active in the market
due to its internal trading blackout period.
Chicopee Bancorp, Inc. is the holding company for Chicopee Savings Bank
and is headquartered in Chicopee, Massachusetts. Chicopee Savings Bank
operates seven offices in West Springfield, Ludlow and Chicopee,
Massachusetts. Chicopee Savings Bank offers a broad array of retail and
commercial lending and deposit services.
Chicopee Bancorp, Inc.
W. Guy Ormsby, 413-594-6692
Executive
Vice President, Chief Financial Officer
and Treasurer
