MAF Bancorp's board of directors has authorized a new stock repurchase program.

The program allows the company to repurchase up to 5% of its common stock over the next year.

Repurchases will be made in the open market from time to time, depending on market conditions. The repurchased stock will be held as treasury stock to be used for general corporate purposes.

MAF Bancorp is the holding company of Mid America Federal Savings Bank and has 10.5 million common shares outstanding.

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