The authorization gives the company the green light to acquire shares on the open market or through private negotiations, depending on how market conditions evolve. Chairman Joseph Robello noted that the program serves as a proactive capital management tool, providing the bank with the necessary flexibility to continue investing in growth while returning value to investors.
Pacific Valley Bancorp Authorizes $3 Million Stock Buyback
Pacific Valley Bancorp is betting on its own long-term stability, with the board of directors authorizing a $3 million share repurchase program. The plan allows the parent company of Pacific Valley Bank to buy back common stock through July 2028, signaling a strategic effort to bolster shareholder value.
Execution remains at the company’s discretion, with funding sourced internally. Management retains the right to suspend or modify the buyback at any time, subject to compliance with federal and state banking regulations. Operating out of four California locations, including Salinas and Monterey, the bank continues to focus its lending and deposit services on small-to-medium businesses and agricultural enterprises.
Comments (0)
No comments yet. Be the first!