Kearny Financial Corp. Announces Authorization for Second Stock Repurchase Plan and Declares Quarterly Cash Dividend

FAIRFIELD, N.J., May 24, 2017 (GLOBE NEWSWIRE) — Kearny Financial Corp. (NASDAQ:KRNY) (the “Company”), the holding company for Kearny Bank, announced today that the Board of Directors has authorized a second stock repurchase plan to acquire up to 8,559,084 shares or 10% of the Company’s currently outstanding common stock.  In conjunction with the commencement of a second stock repurchase plan, the Company also announced the completion of its first 10% stock repurchase plan.  That plan, which was announced on May 20, 2016, authorized the repurchase of up to 9,352,809 shares. The Company ultimately repurchased 9,352,809 shares under that plan, at a total cost of $130.6 million and an average cost of $13.96 per share. 

Such repurchases will be made from time to time in the open market, through block trades, in privately negotiated stock purchases or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission. Such repurchases will be made at management’s discretion at prices management considers to be attractive and in the best interests of both the Company and its stockholders, subject to the availability of stock, general market conditions, the trading price of the stock, alternative uses for capital, and the Company’s financial performance.  Open market purchases will be conducted in accordance with the limitations set forth in Rule 10b-18 of the Securities and Exchange Commission and other applicable legal requirements.

The second stock repurchase program may be suspended, terminated or modified at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases.  The second stock repurchase program does not obligate the Company to purchase any particular number of shares, and there is no guarantee as to the exact number of shares to be repurchased by the Company.

The Company also announced that at that same meeting its Board of Directors declared a quarterly cash dividend of $0.03 per share to stockholders of record as of June 7, 2017, payable on June 21, 2017.

Kearny Financial Corp. is the parent company of Kearny Bank, which operates from its administrative headquarters building in Fairfield, New Jersey, and 42 retail branch offices located throughout northern and central New Jersey and Brooklyn and Staten Island, New York.  At March 31, 2017, Kearny Financial Corp had approximately $4.8 billion in total assets.

Statements contained in this news release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995.  Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, factors discussed in documents filed by Kearny Financial Corp. with the Securities and Exchange Commission from time to time.  The Company does not undertake and specifically disclaims any obligation to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company.

For further information contact:
Craig L. Montanaro, President and Chief Executive Officer, or
Eric B. Heyer, Executive Vice President and Chief Financial Officer
Kearny Financial Corp.
(973) 244-4500

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United Community Banks, Inc. Announces Quarterly Cash Dividend

BLAIRSVILLE, Ga., May 24, 2017 (GLOBE NEWSWIRE) — United Community Banks, Inc. (NASDAQ:UCBI) (“United”), reported that its Board of Directors approved a regular quarterly cash dividend of nine cents per common share.  The dividend is payable July 5, 2017, to shareholders of record on June 15, 2017.

About United Community Banks, Inc.
United Community Banks, Inc. (NASDAQ:UCBI) is a registered bank holding company based in Blairsville, Georgia with $10.7 billion in assets.  The company’s banking subsidiary, United Community Bank, is one of the southeast region’s largest full-service banks, operating 134 offices in Georgia, North Carolina, South Carolina and Tennessee.  The bank specializes in providing personalized community banking services to individuals, small businesses and middle-market companies.  Services include a full range of consumer and commercial banking products including mortgage, advisory, and treasury management.  Respected national research firms consistently recognize United Community Bank for outstanding customer service.  For the last four years, J.D. Power has ranked United Community Bank first in customer satisfaction in the Southeast.  In 2017, for the fourth consecutive year, Forbes included United among their list of the top 100 Best Banks in America.  Additional information about the company and the bank’s full range of products and services can be found at www.ucbi.com.

For more information:
Jefferson L. Harralson
Chief Financial Officer
(864) 240-6208
Jefferson_Harralson@ucbi.com

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IDGLOBAL CORP. Acquires 50% of Prestige Liquids, LLC out of Lockport, Illinois

LOCKPORT, Ill., May 24, 2017 (GLOBE NEWSWIRE) — IDGlobal Corp. (OTC:IDGC) is pleased to announce it has acquired a 50% interest in Prestige Liquids, LLC located inside Glenn Electrics’ 28,000 sq. ft. facility.  Prestige Liquids’ current equipment will manufacture and supply Premium Engine and Hydraulic Oils, as well as Transmission Fluid for both Proprietary and Private-Label distribution domestically and internationally.

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About IDGlobal Corp.

ID Global Corporation (IDGC) is a diversified holdings company with a focus on emerging and middle market investment opportunities Worldwide. IDGC seeks, through debt and equity investments, controlling interests, joint ventures and licensing agreements with established companies within the Packaging and Supply of Consumer Goods Industry.

About Glenn Electric (www.glennelectric.com)

  • 50 years in the Material Handling Industry
  • Only Material Handling Industry Motor Remanufacturer with UL Approval
  • GE Remanufacturing Center
  • Schabmueller Remanufacturing Center for All of North America
  • Canada – USA – Mexico
  • Clark Remanufacturing Center
  • Mitsubishi / Caterpillar – Remanufacturing Center
  • Linde Remanufacturing Center
  • Schabmueller Replacement Parts Facility and All Brands Supplier of Aftermarket Parts
  • Glenn Electric – Load Tests All Remanufactured Motors
  • All Motors are Shipped in a Foam Filled Box that can be reused to return Cores
  • Found in Illinois in 1967 and currently located in Lockport, Illinois

Forward-Looking Statements

This press release contains statements which may constitute “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of ID Global Corporation and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated or changes to future operating results.

Contact:
Sebastien C. DuFort, VP of Business Development
IDGlobal Corporation
630-532-3625
Website: www.idglobal-corp.com
Email: idglobalinfo@gmail.com

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