MB Financial, Inc. Announces Stock Repurchase Program
CHICAGO -- MB Financial, Inc., (Nasdaq: MBFI) holding company for MB Financial Bank, N.A. and Union Bank, N.A. (the "Banks"), announced its intention today to repurchase up to 1,000,000 of its outstanding shares in the open market or in privately negotiated transactions. These shares will be purchased from time to time over a twelve-month period depending upon market conditions.
Mitchell Feiger, President and Chief Executive Officer of the Company, indicated that the Board of Directors approved the repurchase program considering the current price level of the Company's common stock and the capital position of the Company. Mr. Feiger stated: "We believe that the repurchase of our shares represents an attractive investment opportunity which will benefit the Company and our shareholders."
MBFI is the $8 billion holding company for MB Financial Bank, N.A. and Union Bank N.A. (Oklahoma). MB Financial Bank is a locally operated financial institution, which has been delivering competitive personalized service for more than 95 years to privately-owned, middle-market companies as well as to individuals who live and work in the Chicago metropolitan area.
This news release may contain forward-looking statements that involve risk and uncertainties, with respect to the results of operations and other uncertainties that may not be known or anticipated by the Company. While management of the Company uses its best efforts to be accurate in making forward-looking statements, any such statements are subject to risks and uncertainties that could cause the Company's actual results to vary materially from the future results indicated in such forward-looking statements.
Contact
MB Financial, Inc.
Jill York - Vice President and Chief Financial Officer,
888-422-6562
jyork@mbfinancial.com
Mitchell Feiger, President and Chief Executive Officer of the Company, indicated that the Board of Directors approved the repurchase program considering the current price level of the Company's common stock and the capital position of the Company. Mr. Feiger stated: "We believe that the repurchase of our shares represents an attractive investment opportunity which will benefit the Company and our shareholders."
MBFI is the $8 billion holding company for MB Financial Bank, N.A. and Union Bank N.A. (Oklahoma). MB Financial Bank is a locally operated financial institution, which has been delivering competitive personalized service for more than 95 years to privately-owned, middle-market companies as well as to individuals who live and work in the Chicago metropolitan area.
This news release may contain forward-looking statements that involve risk and uncertainties, with respect to the results of operations and other uncertainties that may not be known or anticipated by the Company. While management of the Company uses its best efforts to be accurate in making forward-looking statements, any such statements are subject to risks and uncertainties that could cause the Company's actual results to vary materially from the future results indicated in such forward-looking statements.
Contact
MB Financial, Inc.
Jill York - Vice President and Chief Financial Officer,
888-422-6562
jyork@mbfinancial.com
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