ASB Bancorp Completes Share Repurchase Program

ASHEVILLE, N.C., July 14, 2016 /PRNewswire/ -- ASB Bancorp, Inc. (the "Company") (NASDAQ GM: ASBB) announced today that the Company completed its repurchase of 200,000 shares of its outstanding common stock under the repurchase program previously announced on July 1, 2016.  The repurchase program was approved by the Company's Board of Directors, whereby the Company could repurchase up to 200,000 shares of its outstanding common stock as and when deemed appropriate by management and under any plan that may be deployed in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. A Rule 10b5-1 repurchase plan allowed the Company to repurchase its shares during a period when it would normally not be active in the market due to its internal trading blackout period. The repurchase program totaling 200,000 shares was completed under Rule 10b5-1 on July 11, 2016 at an average price of $24.62 per share. Following the completion of the repurchase, the Company had 3,787,322 shares outstanding.