COLUMBIA, Md., June 4 /PRNewswire-FirstCall/ -- Columbia Bancorp
(Nasdaq: CBMD), parent company of The Columbia Bank (collectively, the
"Company"), announced today that it will reactivate its stock repurchase
program, which was approved by the Board of Directors in October 2000. The
stock repurchase program provides for the repurchase of up to 500,000 shares
of Common Stock in the open market or in privately negotiated transactions.
Shares repurchased under the program to-date total 114,646 shares. At this
time, the Company intends to repurchase approximately 20,000 shares. The
timing and amounts of these and future repurchases will depend on many
factors, including the Company's capital structure, the market price of the
Common Stock and overall market conditions.
ABOUT COLUMBIA BANCORP
Columbia Bancorp, headquartered in Columbia, Maryland, is a bank holding
company and parent company of The Columbia Bank, a commercial bank. The
Columbia Bank currently operates twenty-four banking offices in the
Baltimore/Washington Corridor and provides a full range of financial services
to consumers and businesses. Columbia Bancorp's Common Stock is traded on the
National Market tier of The Nasdaq Stock Market(SM) under the symbol "CBMD."
FORWARD-LOOKING STATEMENTS
Certain statements contained in this press release are forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
The forward-looking statements are based on Columbia Bancorp's current intent,
belief and expectations. These statements are not guarantees of future
performance and are subject to certain risks and uncertainties that are
difficult to predict. Actual results may differ materially from these
forward-looking statements because of interest rate fluctuations, a
deterioration of economic conditions in the Baltimore/Washington metropolitan
area, a downturn in the real estate market, losses from impaired loans, an
increase in non-performing assets, potential exposure to environmental laws,
federal and state bank laws and regulations, the highly competitive nature of
the banking industry, a loss of key personnel, changes in accounting standards
and other risks described in this filing and the Company's other filings with
the Securities and Exchange Commission. Existing and prospective investors
are cautioned not to place undue reliance on these forward-looking statements,
which speak only as of today's date. Columbia Bancorp undertakes no
obligation to update or revise the information contained in this filing
whether as a result of new information, future events or circumstances or
otherwise. Past results of operations may not be indicative of future
results.
SOURCE Columbia Bancorp
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Related links:
http://www.columbank.com
Company News On-Call:
http://www.prnewswire.com/comp/127921.html
CONTACT:
John A. Scaldara, Jr., President and COO of
Columbia Bancorp, +1-410-423-8012
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