Jul 23, 2010 (M2 PRESSWIRE via COMTEX) -- Braintree,Ma. LevelStock.com is pleased to announce to all of its members and investors information on NorthEast Community Bancorp Inc (Nasdaq Global Market:NECB). The Company recently released news as follows:
The holding company for NorthEast Community Bank, NorthEast Community Bancorp Inc (Nasdaq Global Market:NECB), reported yesterday that its board of directors has approved a stock repurchase plan.
The board has authorised the repurchase of up to 297,563 outstanding common shares, or approximately 5.0% of the shares held by persons other than NorthEast Community Bancorp MHC.
This is the first repurchase plan announced by the company since it became a public company in July 2006.
Repurchases will be conducted solely through a Rule 10b5-1 repurchase plan with Sandler O'Neill & Partners LP. Repurchased shares will be held in treasury.
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