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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):  April 11, 2024

FIRST SEACOAST BANCORP, INC.
(Exact Name of Registrant as Specified in Charter)

Maryland
  
001-41597
  
92-0334805
(State or Other Jurisdiction of Incorporation)
  
(Commission File No.)
  
(I.R.S. Employer Identification No.)
 
633 Central Avenue, Dover, New Hampshire
  
03820
(Address of Principal Executive Offices)
  
(Zip Code)

Registrant's telephone number, including area code:  (603) 742-4680

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):

☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class
  
Trading Symbol(s)
  
Name of Each Exchange on Which Registered
Common stock, par value $0.01 per share
  
FSEA
  
The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Item 8.01.
Other Events.

On April 11, 2024, First Seacoast Bancorp, Inc. authorized a stock repurchase program for up to 507,707 shares of common stock, representing approximately 10% of shares currently outstanding.  For further information, refer to the press release dated April 11, 2024, which is filed as Exhibit 99 hereto and incorporated herein by reference.

Item 9.01.
Financial Statements and Exhibits.

(d)     Exhibits


 16
Press Release dated April 11, 2024

104
Cover Page Interactive Data File (Embedded within Inline XBRL document)



SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

Dated:  April 11, 2024
FIRST SEACOAST BANCORP, INC.
   
   
By:
/s/ James R. Brannen
James R. Brannen
President and Chief Executive Officer



EX-16 2 ex16.htm PRESS RELEASE DATED APRIL 11, 2024
Exhibit 16

PRESS RELEASE


Contact:
James R. Brannen
President and Chief Executive Officer
First Seacoast Bancorp, Inc.
(603) 742-4680

First Seacoast Bancorp, Inc. Authorizes Stock Repurchase Program

Dover, NH; April 11, 2024 – First Seacoast Bancorp, Inc. (the “Company”) (Nasdaq Capital Market: FSEA), the holding company for First Seacoast Bank, announced today it has authorized a stock repurchase program for up to 507,707 shares of common stock, representing approximately 10% of shares currently outstanding, to be effective as soon as practicable after the Company files its Quarterly Report on Form 10-Q for the period ending March 31, 2024, with the Securities and Exchange Commission (the “SEC”).

The Company intends to conduct the repurchases on the open market, including by means of a trading plan adopted under SEC Rule 10b5-1, subject to market conditions and other factors.  There is no guarantee as to the number of shares that the Company may ultimately repurchase.  The program will expire 12 months after the effective date, regardless of whether all shares will have been repurchased.  The Company may suspend or discontinue the program at any time.
About First Seacoast Bank
First Seacoast Bank is a federally-chartered stock savings bank serving the financial needs of residents of the Seacoast region of New Hampshire.  First Seacoast Bank operates four full-service offices in Strafford County, New Hampshire, and one full-service office in Rockingham County, New Hampshire.
Forward-Looking Statements
This press release contains certain forward-looking statements about the stock repurchase program.  Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts.  They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.”  Forward-looking statements, by their nature, are subject to risks and uncertainties.  Certain factors that could cause actual results to differ materially from expected results include the Company’s inability to execute the repurchase program due to stock market conditions or otherwise.

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