0001140361-19-002231.txt : 20190201 0001140361-19-002231.hdr.sgml : 20190201 20190201152259 ACCESSION NUMBER: 0001140361-19-002231 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20190201 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20190201 DATE AS OF CHANGE: 20190201 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Best Hometown Bancorp, Inc. CENTRAL INDEX KEY: 0001667840 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-55652 FILM NUMBER: 19559597 BUSINESS ADDRESS: STREET 1: 100 EAST CLAY STREET CITY: COLLINSVILLE STATE: IL ZIP: 62234 BUSINESS PHONE: 618-345-1121 MAIL ADDRESS: STREET 1: 100 EAST CLAY STREET CITY: COLLINSVILLE STATE: IL ZIP: 62234 8-K 1 form8k.htm 8-K
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): February 1, 2019


Best Hometown Bancorp, Inc.
 (Exact name of registrant as specified in its charter)


Maryland
0-55652
81-1959486
State or other jurisdiction of Incorporation
(Commission File Number)
(IRS Employer Identification No.)

100 East Clay Street, Collinsville, Illinois 62234
(Address of principal executive offices) (Zip Code)

(618) 345-1121
(Registrant’s telephone number, including area code)


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:

☐
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))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934. ☒

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. ☐

Item 8.01
Other Events

On January 24, 2019, Best Hometown Bancorp, Inc. (the “Company”) announced that the Company’s Board of Directors authorized a stock repurchase program. Under the program, the Company may purchase up to $500,000 of its outstanding common stock over the next 12 months.  The purchases may be made in open-market transactions or privately negotiated transactions and may be made from time to time depending on market conditions, share price, trading volume, cash needs and other business factors.

On February 1, 2019, the Company issued a press release announcing the share repurchase program.  A copy of the press release is furnished as Exhibit 99.1 to this report.

Item 9.01
Financial Statements and Exhibits

(d)
Exhibits

Exhibit Number
Description
   
99.1
Press release dated February 1, 2019

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.

Date: February 1, 2019
BEST HOMETOWN BANCORP, INC.
   
 
By:
/s/ Ronnie R. Shambaugh
 
Name:
Ronnie R. Shambaugh
 
Title:
President and Chief Executive Officer

Exhibit Index

Exhibit No.
Description
   
Press release dated February 1, 2019


EX-99.1 2 ex99_1.htm EXHIBIT 99.1
Exhibit 99.1

PRESS RELEASE

Contact: Ronnie R. Shambaugh
President and CEO
(618) 345-1121
FOR IMMEDIATE RELEASE

Best Hometown Bancorp, Inc. Announces $500,000 Stock Repurchase Program

Best Hometown Bancorp, Inc. (OTC:BTHT), holding company for Best Hometown Bank in Collinsville, Illinois, today announced that at its meeting on January 24, 2019, the Company’s Board of Directors authorized a stock repurchase program, under which the Company may repurchase up to $500,000 of its outstanding common stock.

According to Ronnie R. Shambaugh, Best Hometown Bancorp’s President and Chief Executive Officer, “the stock repurchase program that was announced today demonstrates our confidence in the strength of our business and commitment to delivering value for our shareholders.”

Under the stock repurchase program, the Company may purchase, from time to time, on the open market or otherwise, shares of common stock of the Company in such quantities, at such prices, in such manner and on such terms and conditions as the Company’s management team my deem appropriate, so long as (i) the aggregate value of shares of common stock repurchased shall not exceed $500,000.00 and (ii) no shares may be repurchased at a price in excess of $13.50.  Unless extended by the board, the repurchase program will terminate on the first anniversary of its adoption.

Due to applicable securities laws and the Company’s black-out policy, the Company’s repurchase of shares will not begin before the release of the Company’s financial statements for the calendar year ended December 31, 2018, which is expected to be mid to late February, 2019. The extent to which the Company repurchases its shares, and the timing of such repurchases, will depend upon a variety of factors, including market conditions, capital requirements and other corporate considerations, as determined by the Company’s management team. The repurchase program may be suspended or discontinued at any time. The Company expects to finance the purchases with existing cash balances.