CHICAGO, Oct. 19 /PRNewswire/ -- Fidelity Bancorp, Inc. (Nasdaq: FBCI),
the parent company of Fidelity Federal Savings Bank, today announced it plans
to repurchase up to 110,000 shares, or 5 percent of its common stock. The
company reported that the repurchase plan has been authorized by its board of
directors and will begin October 22, 1999. The repurchase of the company's
stock will be made in open market transactions, subject to availability of its
stock.
"We view this latest repurchase plan as part of an ongoing strategy to
build value for Fidelity Bancorp's stockholders," said Raymond S. Stolarczyk,
chairman and chief executive officer.
The company completed its ninth stock repurchase plan on June 1, 1999. Ten
percent, or 240,000 shares were repurchased.
Fidelity Bancorp, Inc. is the holding company for Fidelity Federal Savings
Bank, which provides retail banking services through five full-service
locations in Chicago and its suburbs. Established in 1906, the bank is
primarily in the business of attracting retail deposits from the general
public and investing those, funds in mortgages and consumer loans. Fidelity's
stock is traded on The Nasdaq Stock Market under the symbol "FBCI. "
Fidelity Bancorp Inc.'s news releases are available through PR Newswire's
Company News On-Call fax service. For a menu of Fidelity Bancorp's news
releases, or to receive a specific release, call 800-758-5804, ext. 107861, or
visit http://www.prnewswire.com on the Internet. The company's SEC filings are
available electronically on the Internet at http://www.sec.gov/cgi-bin/srch-
edgar?0000912219.
This news release contains forward-looking statements, which are subject
to numerous assumptions, risk and uncertainties. Actual results could differ
materially from those contained in or implied by such forward-looking
statements for a variety of factors including: (1) developments in general
economic conditions, including interest rate and currency fluctuations, market
fluctuations and perceptions, and inflation; (2) changes in the economy which
could materially change anticipated credit quality trends and the ability to
generate loans and deposits; (3) a failure of the capital markets to function
consistently with customary levels; (4) a delay in or an inability to execute
strategic initiatives designed to grow revenues and/or manage expenses; (5)
legislative developments, including changes in laws concerning taxes, banking,
securities, insurance and other aspects of the industry; (6) changes in the
competitive environment for financial services organizations and the company's
ability to adapt to such changes; and (7) the company's ability and resources
to effect articulated business strategies and manage risks associated with the
Year 2000 issue.
SOURCE Fidelity Bancorp, Inc.
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Company News On-Call:
http://www.prnewswire.com/comp/107861.html or fax,
800-758-5804, ext. 107861
CONTACT:
Raymond S. Stolarczyk, Chairman & CEO, Thomas
E. Bentel, President & COO, or Jim Kinney, Sr. VP & CFO, all of
Fidelity Bancorp, 773-736-4414
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