BOSTON - Boston Bancorp said its board authorized the buyback of up to 600,000 common shares, or about 10% of the currently outstanding shares.

Repurchases will be made from time to time over the next 12 months on the open market or in privately negotiated transactions, based on market prices, the company said.

Boston Bancorp, with $2.1 billion in assets, is the holding company for South Boston Savings Bank, an FDIC-insured savings bank based in South Boston.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.