Joseph J. LiBassi, Chairman of VSB Bancorp, Inc., stated, "Buying back our stock at a discount to our book price is one of our strategies for increasing shareholder value." Raffaele (Ralph) M. Branca, President & CEO of VSB Bancorp, Inc., stated, "In addition to this repurchase plan, we have paid thirty consecutive cash dividends and we just announced our thirty-first quarterly dividend. Our financial strength and continued profitability gives us the flexibility to utilize our resources for the benefit of our shareholders."