PRESS
RELEASE
December 12, 2002
Contact
Ken F. Parsons, Sr.
Chairman
(360) 459-1100
(360) 459-0137 (fax)
First
Community Financial Group Announces Stock Repurchase Plan
LACEY,
Wash. - December 12, 2002 - First Community
Financial Group, Inc., announced that on Wednesday, December
11, 2002, its board of directors authorized a stock repurchase
program. Under the program the company will buy up to 132,000
shares of the Company's common stock or approximately 3% of
the total common shares currently outstanding. The stock
repurchase program authorizes the company to make scheduled
purchases over time in either privately negotiated
transactions or through the open market. The planned
repurchases will, among other things, be subject to applicable
federal securities laws. Several of the company's executive
officers and directors, including the Chairman and Chief
Executive Officer, have indicated that they may sell shares
under the stock repurchase plan.
First
Community Financial Group is the parent company of First
Community Bank. FCB, with 21 offices in four western
Washington counties, offers a full spectrum of financial
services including commercial, construction, residential and
consumer lending, deposit products and other banking services.
The bank also provides a broad range of investment services
through its subsidiary FCB Financial Services, Inc. Further
information about the bank may be found on the Internet at www.fcbonline.com.
Certain
statements contained herein may constitute forward-looking
statements within the meaning of the federal securities laws.
Actual results and the timing of certain events could differ
materially from those projected in the forward-looking
statements due to a number of factors. Such risks and
uncertainties with respect to the Company include those
related to the economic environment, particularly in the
region in which the company operates, competitive products and
pricing, fiscal and monetary policies of the federal
government, changes in government regulations affecting
financial institutions, including regulatory fees and capital
requirements, changes in prevailing interest rates,
acquisitions and the integration of acquired businesses,
credit risk management and asset / liability management, the
financial and securities markets and the availability of and
costs associated with sources of liquidity.
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