NORTHAMPTON — Three days after students protesting Smith College’s financial holdings in armaments manufacturers occupied College Hall, the college president and interim dean plan to discuss next steps with the activists.

In a statement issued Friday, President Sarah Willie-LeBreton said college leadership “hopes for and remains committed to a prompt and peaceful resolution.

“We are optimistic that this resolution can be achieved this weekend and that additional action will not be required.”

Willie-LeBreton and Alex Keller plan to speak with the occupiers Saturday.

Student protesters said the statement was the first communication they had received from the administration. One occupier, who asked not to be identified, said the activists have clear demands and clear conditions for ending the sit-in, but are prepared for open communication.

Hundreds of students occupied Smith’s administration building Wednesday afternoon in a protest organized by Students for Justice in Palestine. They are calling on the college to divest from weapons manufacturers that supply armaments being used in Israel’s assault on Gaza.

The occupiers’ numbers dropped Wednesday after College Hall was locked early, leaving an estimated 45 to 50 inside.

The sit-in started after college trustees rejected the students’ divestment petition, describing the endowment’s investment in military contractors and weapons manufacturers as “negligible and entirely indirect.” Willie-LeBreton said in her statement that less than 1% of Smith’s endowment is invested in such companies.

College officials have stated they endorse freedom of expression as long as it is not disruptive.

“The continued occupation of College Hall disrupts the regular and essential operations of the institution,” the president’s statement reads.

“Students in the building have been cautioned about college policies regarding their presence in buildings that are closed and possible academic consequences for missed classes.”

Daily wellness checks are being conducted within College Hall, and additional security has been hired, Willie-LeBreton stated.

Students inside the building said they’ve been heartened to see the “giant outpouring of community support” for their action from fellow students, alumni, community members and others.