Corporate Maneuvers: Buybacks Signal Confidence, Insider Trades Spark ScrutinyIn a dynamic period for the financial markets, several public companies are making headlines with significant corporate actions. Azenta Inc. (
NASDAQ: AZTA) and Fabasoft AG (XTRA: FSY) have recently unveiled substantial share buyback programs, signaling strong confidence in their future prospects and a commitment to enhancing shareholder value. These strategic
First Seacoast Bancorp, Inc. Announces President Transition
First Seacoast Bancorp, Inc. (the “Company”), the holding company for First Seacoast Bank (the “Bank”), announced today that its Board of Directors unanimously approved a transition in executive leadership. The offices of President of the Company and the Bank, formerly held by James R. Brannen, have transitioned to Richard M. Donovan, who currently serves as Chief Financial Officer.
First Seacoast Bancorp, Inc. Authorizes Additional Share Repurchases Under Ongoing Stock Repurchase Program
First Seacoast Bancorp, Inc. (the “Company”) (Nasdaq Capital Market: FSEA), the holding company for First Seacoast Bank, announced today it has authorized additional share repurchases, up to an additional 228,858 shares of common stock, under its ongoing stock repurchase program.
First Seacoast Bank Completes Sale-Leaseback Transaction with MountainSeed Real Estate Services, LLC
Effective June 11, 2024, First Seacoast Bank, the wholly-owned subsidiary of First Seacoast Bancorp, Inc. (Nasdaq: "FSEA"), completed its previously announced sale-leaseback transaction with MountainSeed Real Estate Services, LLC, a Georgia limited liability company ("MountainSeed"). Under the terms of the deal, First Seacoast Bank sold to MountainSeed four properties owned and operated by First Seacoast Bank as bank office locations (the “Properties”) for an aggregate purchase price of approximately $7.5 million, including customary closing adjustments. The Properties are located in the immediate vicinity of Dover, New Hampshire, where First Seacoast Bank is headquartered.
First Seacoast Bancorp, Inc. Authorizes Stock Repurchase Program
First Seacoast Bancorp, Inc. (the “Company”) (Nasdaq Capital Market: FSEA), the holding company for First Seacoast Bank, announced today it has authorized a stock repurchase program for up to 507,707 shares of common stock, representing approximately 10% of shares currently outstanding, to be effective as soon as practicable after the Company files its Quarterly Report on Form 10-Q for the period ending March 31, 2024, with the Securities and Exchange Commission (the “SEC”).
First Seacoast Bancorp, Inc. Announces Balance Sheet Repositioning
First Seacoast Bancorp, Inc. (the "Company") (NASDAQ Capital Market: FSEA), the holding company for First Seacoast Bank, announced today the execution of a balance sheet repositioning strategy related to its available-for-sale investment securities portfolio.
First Seacoast Bancorp, Inc. Announces Closing of Conversion Transaction
First Seacoast Bancorp, Inc. (Nasdaq: FSEA), the new holding company for First Seacoast Bank, announced that the conversion of First Seacoast Bancorp, MHC from mutual to stock form and the related stock offering by First Seacoast Bancorp, Inc. closed following the close of business today. First Seacoast Bancorp, Inc.’s common stock is expected to begin trading on the Nasdaq Capital Market under the trading symbol “FSEA” on January 20, 2023.
First Seacoast Bancorp Announces Expected Closing Date of Conversion Transaction
First Seacoast Bancorp (Nasdaq: FSEA), the holding company for First Seacoast Bank, announced today that all regulatory approvals have been received to close the conversion of First Seacoast Bancorp, MHC from mutual to stock form and the related stock offering by First Seacoast Bancorp, Inc., the proposed new stock holding company for First Seacoast Bank.
First Seacoast Bancorp Announces Completion of Syndicated Community Offering
First Seacoast Bancorp (Nasdaq: “FSEA”), the holding company for First Seacoast Bank, announced today that the syndicated community offering by First Seacoast Bancorp, Inc., the proposed successor to First Seacoast Bancorp, in connection with the conversion of First Seacoast Bancorp, MHC from mutual to stock form was completed today in accordance with the terms of First Seacoast Bancorp, Inc.’s Prospectus dated November 14, 2022, as supplemented by the Prospectus Supplement dated December 21, 2022.
First Seacoast Bancorp Announces Stockholder and Member Approvals for Pending Conversion Transaction
First Seacoast Bancorp (Nasdaq: FSEA), the holding company for First Seacoast Bank, announced today that the stockholders of First Seacoast Bancorp and the members of First Seacoast Bancorp, MHC both approved the pending conversion of First Seacoast Bancorp, MHC from mutual to stock form. The approvals were received at a Special Meeting of Stockholders and a Special Meeting of Members, both held earlier today.
First Seacoast Bancorp Increases Maximum Purchase Limits, and First Seacoast Bancorp, Inc. Commences Syndicated Community Offering
First Seacoast Bancorp (Nasdaq: “FSEA”), the holding company for First Seacoast Bank, announced today the increase in the maximum purchase limits in the stock offering being conducted by First Seacoast Bancorp, Inc., the proposed successor to First Seacoast Bancorp, in connection with the conversion of First Seacoast Bancorp, MHC from mutual to stock form. Both the maximum individual purchase limit and the maximum group limit have been increased from 40,000 shares ($400,000) to 5% of the shares issued in all categories of the stock offering. At the minimum of the offering range disclosed in First Seacoast Bancorp, Inc.’s prospectus dated November 14, 2022, the new limits equate to $1,402,500 (140,250 shares).
First Seacoast Bancorp Announces Commencement of Stock Offering in Connection with Second Step Conversion Transaction
First Seacoast Bancorp (Nasdaq: “FSEA”), the holding company for First Seacoast Bank, announced today that First Seacoast Bancorp, Inc., a newly formed Maryland corporation and the proposed successor holding company of First Seacoast Bank, is commencing its offering of common stock in connection with the proposed conversion of First Seacoast Bancorp, MHC from a mutual holding company to a stock holding company.
First Seacoast Bancorp Announces Adoption of Plan of Conversion and Reorganization to Undertake Second Step Conversion
First Seacoast Bancorp (Nasdaq: “FSEA”), the holding company for First Seacoast Bank, announced today that the Board of Directors of its parent mutual holding company, First Seacoast Bancorp, MHC, has adopted a Plan of Conversion and Reorganization pursuant to which First Seacoast Bancorp, MHC will undertake a “second step” conversion from the mutual holding company structure to the stock holding company structure.
