Westfield Financial to repurchase shares

Westfield Financial Inc. today said its board approved a plan to repurchase up to about 3.2 million shares of common stock.

Under the plan, the community bank would be able to buy back 10 percent of outstanding stock.

Based on Tuesday’s closing price of $8.95, it would cost about $28.6 million to repurchase the stock.

Shares of Westfield Financial rose 57 cents, or 6.4 percent, to $9.52 in afternoon trading.
(AP)