CLARENDON, HILLS, Ill. MAF Bancorp Inc. said its board of directors authorized an additional stock-repurchase program following the successful completion of its initial 5% repurchase program.
MAF Bancorp s the holding company of Mid America Federal Savings Bank, and presently has 5,081,064 common shares outstanding.
The new program allows the company to repurchase up to 100,000 additional shares of its common stock over the next year. Repurchases will be made in the open market from time to time depending on market conditions.
In its initial stock buyback program, which began in October 1993, the company repurchased a total of 266,825 shares at an average price of $21.60 per share.
MAF Bancorp has assets of $1.6 billion.