Albank Financial set to repurchase stock.

ALBANY, N.Y. -- Albank Financial Corp. said its board authorized the repurchase of up to 5%, or 784,875 shares, of its outstanding stock.

Albank completed its conversion to a public company April 1 and had 15,697,500 shares outstanding at May 31. The company said it expects to begin the stock repurchase program this month.

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