Columbia Bancorp (NASDAQ:CBMD)
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Columbia Bancorp Announces Re-Activation of Stock Repurchase
Program
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.
DATASOURCE: Columbia Bancorp
CONTACT: John A. Scaldara, Jr., President and COO of Columbia Bancorp,
+1-410-423-8012
Web site: http://www.columbank.com/
Company News On-Call: http://www.prnewswire.com/comp/127921.html