Fairmount Bancorp plans to buy back up to 25,000 shares

Buyback program will begin next week and last up to six months

September 07, 2012|By Eileen Ambrose, The Baltimore Sun

Fairmount Bancorp announced Friday that it plans to repurchase up to 25,000 shares of its common stock, or about 5 percent of the total outstanding shares. The parent of the Baltimore County-based Fairmount Bank said it will buy shares periodically over the next six months depending on market conditions. Joseph M. Solomon, president and CEO, said in a statement that the company's strong capital position allows it to conduct the buyback to enhance stockholder value.

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