Cheviot Financial is planning a large share repurchase program nearly a year after converting to a fully public company.
The $634 million-asset company said Wednesday that its board had authorized it to buy back roughly 10% of its outstanding stock. The board authorized a buyback of nearly 760,000 shares beginning Jan. 21.
Regulators approved Cheviot's plans for a second-step conversion in late 2011. The company completed the transition in January 2012, selling more than 4.6 million shares at $8 each.