PFBC - Preferred Bank announces share repurchase plan
2023-06-12 08:45:41 ET
- Preferred Bank ( NASDAQ: PFBC ) has announced that it had received all the required approvals to begin its stock repurchase plan.
- At the annual shareholder’s meeting, the Bank’s shareholders approved a stock repurchase plan which calls for the repurchase of up to $150M of common stock .
- Today, the Board of Directors has approved what will be the first leg of that repurchase plan, which will call for the repurchase of up to $50M of the total $150M repurchase.
- The shares will be purchased in the open market.
For further details see:
Preferred Bank announces share repurchase plan