ESSA Bancorp Inc. of Stroudsburg, Pa., has completed its second stock repurchase program, and announced another plan to buy back 5% more of its outstanding stock.
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The $1 billion-asset company purchased 1.5 million shares at a weighted average cost of $12.36. ESSA said Wednesday its board has approved a third program to buy shares from time to time for cash in open market transactions, or in privately negotiated transactions.
At June 30, ESSA Bank and Trust had a total risk-based capital ratio of 31.1%, a Tier 1 capital ratio of 29.85% and a leverage ratio of 15%.
