STURGIS, Mich., Aug. 10, 2011 /PRNewswire/ -- Sturgis Bancorp,
Inc. (OTCBB: STBI) announced today that Eric L. Eishen, the President/CEO of Sturgis
Bancorp, has purchased 4,539 shares of Sturgis Bancorp stock
through his 401K account. The price paid per share was
$6.00. This purchase was made
during a window period for trading of Sturgis Bancorp stock
consistent with Sturgis Bancorp policies.
In announcing the trade, Mr. Eishen stated: "I feel the current
pricing of our stock represents a buying opportunity. I also wish
to demonstrate to existing and potential shareholders that the
person running the Bank is confident that the current performance
metrics are not expected to be long-term in duration." Mr.
Eishen further stated: "I feel we have the worst behind us and I
expect the earnings will be positive going forward."
Sturgis Bancorp executives and board members have a limited
number of window periods in which to purchase or sell Sturgis
Bancorp stock. These window periods are typically four times
per year. These window periods happen after quarterly or year-end
earnings have been released presuming there is not any material
non-public information in the possession of the insiders. Three of
the board members continue to accumulate shares and none of the
directors has liquidated shares in the past 12-months.
Sturgis Bancorp is a holding company for Sturgis Bank & Trust Company, and its
subsidiaries Oakleaf Financial Services, Inc. and Oak Mortgage,
LLC. Sturgis Bancorp provides a full array of trust,
commercial and consumer banking services from 11 banking centers in
Sturgis, Bronson, Centreville, Climax, Colon, South
Haven, Three Rivers and
White Pigeon, Michigan.
Oakleaf Financial Services offers a complete range of
investment and financial-advisory services. Oak Mortgage
offers residential mortgages in all markets of the Bank.
Certain statements in this press release, including statements
regarding the intent, belief or current expectations of Sturgis
Bancorp, Inc. or its directors or officers, are "forward-looking"
statements (as such term is defined in the Private Securities
Litigation Reform Act of 1995). Because such statements are
subject to risks and uncertainties, actual results may differ
materially from those expressed or implied by such forward-looking
statements.
SOURCE Sturgis Bancorp, Inc.