In Brief: Iowa Thrift Planning A 5% Share Buyback

Perpetual Midwest Financial Inc. said intends to buy back about 5% of its outstanding common shares over the next 12 months.

The savings and loan holding company said the repurchased shares will be used as treasury shares for general corporate purposes, including the issuance of shares in connection with the exercise of stock options.

Perpetual Midwest had nearly 2 million common shares outstanding at June 30.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER