EXHIBIT 99.1
PRESS RELEASE
Monadnock Bancorp, Inc. 603.924.9654
1 Jaffrey Road www.monadnockbank.com
Peterborough, NH 03458
FOR IMMEDIATE RELEASE
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For Additional Information Contact:
Karl F. Betz, SVP, CFO & Treasurer (603) 924-9654
kbetz@monadnockbank.com
Monadnock Bancorp, Inc. Announces Stock Repurchase Program
Peterborough, New Hampshire - May 25, 2007 - Monadnock Bancorp, Inc.
(over-the-counter bulletin board: MNKB), the holding company for Monadnock
Community Bank announced today that Monadnock Bancorp, Inc. intends to
repurchase up to 26,538 shares, or 2.05% of its outstanding common stock in open
market purchases or in privately negotiated transactions. The purpose of the
repurchase program is to fund the Monadnock Bancorp, Inc. 2007 Equity Incentive
Plan for restricted stock awards which was approved by stockholders at the 2007
Annual Meeting of Stockholders. These shares will be purchased at prevailing
market prices from time to time over a twelve-month period depending upon market
conditions.
This news release contains certain forward-looking statements about the proposed
stock repurchase program. Forward-looking statements can be identified by the
fact that they do not relate strictly to historical or current facts. They often
include words like "believe," "expect," "anticipate," "estimate," and "intend"
or future or conditional verbs such as "will," "would," "should," "could," or
"may". Certain factors that could cause actual results to differ materially from
expected results include delays in completing the proposed repurchase program,
changes in the interest rate environment, changes in the market price of
Monadnock Bancorp, Inc. common stock, changes in the general economic
conditions, legislative and regulatory changes that adversely affect the
business of Monadnock Bancorp, Inc. and changes in the securities markets.