Territorial Savings parent to buy back 6% of stock

Territorial Bancorp Inc., the holding company parent of Territorial Savings Bank, said today it will repurchase up to 6 percent of its stock, or 733,988, to boost the value of the remaining shares.
Allan Kitagawa, CEO of the company, said, “We are pleased to announce our first stock repurchase plan. We understand that stock repurchase programs can be an effective capital management tool and, under the right circumstances, can enhance stockholder value.”