Exhibit 99.1 Press Release
JULY 26, 2000
PRESS RELEASE
From: Massachusetts Fincorp, Inc.
Contact: David C. Bojarczuk, CFO & Treasurer
Corporate Office: 70 Quincy Avenue
Quincy, Massachusetts 02169
Telephone: (617) 825-5555
FOR IMMEDIATE RELEASE:
MASSACHUSETTS FINCORP, INC. ANNOUNCES
SHARE PURCHASE PROGRAM FOR RESTRICTED STOCK PLAN
Quincy, MA - July 26, 2000 - David C. Bojarczuk, Chief Financial Officer
and Treasurer of Massachusetts Fincorp, Inc. (OTCBB: MAFN), announced today
the commencement of its initial stock purchase program to fund the
Company's Stock-Based Incentive Plan (the "Plan"). The Plan was approved by
stockholders in 1999. The company intends to purchase at least the first
20% or 4,264 shares of the 4% or 21,819 shares of common stock included in
the plan.
Massachusetts Fincorp, Inc. is a publicly owned savings and loan holding
company and the parent corporation of the Massachusetts Co-operative Bank,
a Massachusetts stock co-operative bank offering traditional financial
products and services. Massachusetts Co-operative Bank conducts business
through its headquarters located at 70 Quincy Avenue, Boston, MA 02169, and
its offices located in Boston and East Milton.
This document contains certain forward-looking statements (within the
meaning of the Private Securities Litigation Reform Act) which involve
risks and uncertainties. The Company cautions readers that a number of
important factors could cause actual results to differ materially from the
forward-looking statements. These factors include unforeseen fluctuations
in interest rates, market conditions, inflation, adverse changes in
government regulations and economic conditions.
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