Melrose Bancorp, Inc. (NasdaqCM:MELR) announces a share repurchase program. Under the program, the company will repurchase up to 283,000 shares. The program permits shares to be repurchased in open market or private transactions, through block trades, and pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission.

Open market purchases will be conducted in accordance with the limitations set forth in Rule 10b-18 of the Securities and Exchange Commission and other applicable legal requirements. Repurchases will be made at management's discretion at prices management considers to be attractive and in the best interests of both the company and its stockholders, subject to the availability of stock, general market conditions, the trading price of the stock, alternative uses for capital, and the company's financial performance. The repurchase program does not obligate the company to purchase any particular number of shares.

The repurchase program may be suspended, terminated or modified at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases.