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PBSK > SEC Filings for PBSK > Form 8-K on 13-Jun-2013All Recent SEC Filings

Show all filings for POAGE BANKSHARES, INC. | Request a Trial to NEW EDGAR Online Pro



Other Events, Financial Statements and Exhibits

Item 8.01 Other Events

On June 11, 2012, the Board of Directors of Poage Bankshares, Inc. (the "Company") authorized a stock repurchase program pursuant to which the Company intends to purchase up to 161,816 of its issued and outstanding shares of common stock, which represents approximately 5.0% of the Company's issued and outstanding shares. The repurchase program will commence on or about June 14, 2013. The timing of the purchases will depend on certain factors, including but not limited to, market conditions and prices, available funds and alternative uses of capital. The stock repurchase program may be carried out through open-market purchases, block trades, negotiated private transactions and pursuant to a trading plan that will be adopted in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934. Any repurchased shares will be held by the Company as authorized but unissued shares.

In connection with the authorization of this stock repurchase program, the Board of Directors of the Company terminated the Company's existing stock repurchase program, which had authorized the Company to purchase up to 168,619 shares of its issued and outstanding common stock. The Company had previously purchased a total of 136,046 shares of its common stock at a weighted average price of $14.51 per share under the existing stock repurchase program.

Item 9.01 Financial Statements and Exhibits

(a) Not Applicable.

(b) Not Applicable.

(c) Not Applicable.

(d) Exhibits

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