UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): December 12, 2024
FIRST SEACOAST BANCORP, INC.
(Exact Name of Registrant as Specified in Charter)
|
Maryland
|
|
001-41597
|
|
92-0334805
|
|
(State or Other Jurisdiction of Incorporation)
|
|
(Commission File No.)
|
|
(I.R.S. Employer Identification No.)
|
| |
|
633 Central Avenue, Dover, New Hampshire
|
|
03820
|
|
(Address of Principal Executive Offices)
|
|
(Zip Code)
|
Registrant's telephone number, including area code: (603) 742-4680
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2.):
☐
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
☐
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
☐
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
☐
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Securities registered pursuant to Section 12(b) of the Act:
|
Title of Each Class
|
|
Trading Symbol(s)
|
|
Name of Each Exchange on Which Registered
|
|
Common stock, par value $0.01 per share
|
|
FSEA
|
|
The Nasdaq Stock Market LLC
|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or
Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or
revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
On December 12, 2024, First Seacoast Bancorp, Inc. authorized additional share repurchases, up to an additional 228,858 shares of common
stock, under its ongoing stock repurchase program previously reported in a Current Report on Form 8-K filed on April 11, 2024. For further information, refer to the press release dated December 12, 2024, which is filed as Exhibit 99.1 hereto and
incorporated herein by reference.
| Item 9.01. |
Financial Statements and Exhibits.
|
| |
(d)
|
Exhibits
|
| |
|
|
| |
|
|
Press Release dated December 12, 2024
|
| |
|
104
|
Cover Page Interactive Data File (Embedded within Inline XBRL document)
|
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned, hereunto duly authorized.
| |
|
FIRST SEACOAST BANCORP, INC.
|
| |
|
|
| |
|
|
|
Dated: December 12, 2024
|
By:
|
/s/ James R. Brannen
|
| |
|
James R. Brannen
|
| |
|
President and Chief Executive Officer
|
PRESS RELEASE
Contact:
James R. Brannen
President and Chief Executive Officer
First Seacoast Bancorp, Inc.
(603) 742-4680
First Seacoast Bancorp, Inc. Authorizes Additional Share Repurchases
Under Ongoing Stock Repurchase Program
Dover, NH; December 12, 2024 – 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.
Previously announced in April 2024, the original repurchase authorization encompassed 507,707 shares of common stock, representing
approximately 10% of the then outstanding shares. To date, the Company has repurchased 397,008 shares at an average price of $9.15 per share. The additional repurchase authorization represents approximately 5% of pro forma outstanding shares
assuming the repurchase of the remaining shares subject to the original authorization.
The Company intends to conduct the repurchases on the open market, including by means of a trading plan adopted under SEC Rule 10b5-1,
subject to market conditions and other factors. There is no guarantee as to the number of shares that the Company may ultimately repurchase. The additional repurchase authorization will expire on December 3, 2025, regardless of whether all
additional shares will have been repurchased. The Company may suspend or discontinue repurchases at any time.
About First Seacoast Bank
First Seacoast Bank is a federally-chartered stock savings bank serving the financial needs of
residents of the Seacoast region of New Hampshire. First Seacoast Bank operates four full-service offices in Strafford County, New Hampshire, and one full-service office in Rockingham County, New Hampshire.
Forward-Looking Statements
This press release contains certain forward-looking statements about the stock repurchase program. Forward-looking statements include
statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future
or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected
results include the Company’s inability to execute stock repurchases due to stock market conditions or otherwise.
# # #