STATEN ISLAND, NY--(Marketwire - September 8, 2008) - VSB Bancorp, Inc. (the "Company")
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Joseph J. LiBassi, Chairman of VSB Bancorp, Inc., stated, "The implementation of this stock repurchase plan demonstrates our commitment to finding ways to increase shareholder value." Raffaele (Ralph) M. Branca, President & CEO of VSB Bancorp, Inc., stated, "In this tough economic climate where capital is a premium, we have been able to pay off our trust preferred obligation and we have now entered into this stock repurchase plan, a clear demonstration of the financial strength of our Company."
This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on current expectations, estimates and projections about the Company's and the Bank's industry, and management's beliefs and assumptions. Words such as anticipates, expects, intends, plans, believes, estimates and variations of such words and expressions are intended to identify forward-looking statements. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to forecast. Therefore, actual results may differ materially from those expressed or forecast in such forward-looking statements. The Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information or otherwise.
Contact Information: Contact Name: Ralph M. Branca President & CEO (718) 979-1100