Coastway to buyback 5% of stock

WARWICK – Coastway Bancorp Inc. last month announced its first stock repurchase program in which it may repurchase up to 5 percent of its common stock.
Coastway Bancorp, parent of Coastway Community Bank, approved the decision to repurchase up to 247,459– or 5 percent – of its outstanding shares.
The repurchasing program permits shares to be repurchased in the open market or private transactions and other trading rules laid out by the Securities and Exchange Commission.
“Repurchases will be made at management’s discretion at prices management considers to be attractive and in the best interests of both 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 performances,” according to a company press release.
Coastway Community Bank has branches in Cranston, East Providence, East Greenwich, Lincoln, Providence and Warwick.