Commencement Bancorp, Inc. (CBWA) Announces Stock Repurchase Plan
Rhea-AI Summary
Commencement Bancorp (OTCQX:CBWA) has announced a stock repurchase program approved by its Board of Directors. The program allows for share repurchases through open market transactions, private dealings, and block trades, potentially incorporating a Rule 10b5-1 trading plan under the Securities Exchange Act of 1934.
The repurchase program will run from February 5, 2025, to February 4, 2026. The execution of the program will be subject to SEC requirements and various constraints related to price, volume, and timing. The actual implementation details, including the number and value of shares to be repurchased, will depend on multiple factors such as trading plan constraints, market conditions, share price, and alternative investment opportunities.
Positive
- Board approval of share repurchase program indicates confidence in company's financial position
- Program provides potential support for stock price through systematic buying
- Flexibility in execution methods (open market, private transactions, block trades)
Negative
- No specific repurchase amount or limit disclosed
- Program execution subject to multiple constraints and conditions
- Capital allocation to buybacks may limit other investment opportunities
News Market Reaction
On the day this news was published, CBWA gained 2.20%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
TACOMA, WA / ACCESS Newswire / February 5, 2025 / Commencement Bancorp, Inc. (OTCQX:CBWA) (the "Company") announced today that its Board of Directors adopted a stock repurchase program for the purpose of repurchasing a limited number of shares of the Company's common stock. The repurchase 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 Exchange Act of 1934, as amended.
The repurchase program will cover the repurchase of shares commencing no earlier than February 5, 2025, and expiring February 4, 2026. Repurchases are subject to SEC requirements as well as certain price, volume, and timing constraints specified in the plan. The actual timing, number and value of shares repurchased under the repurchase program will depend on a number of factors, including constraints specified in any Rule 10b5-1 trading plans, price, general business and market conditions, and alternative investment opportunities.
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About Commencement Bancorp, Inc.
Commencement Bancorp, Inc. is the holding company for Commencement Bank, headquartered in Tacoma, Washington. Commencement Bank was formed in 2006 to provide traditional, reliable, and sustainable banking in Pierce, King, and Thurston counties and the surrounding areas. Their team of experienced banking experts focuses on personal attention, flexible service, and building strong relationships with customers through state-of-the-art technology as well as traditional delivery systems. As a local bank, Commencement Bank is deeply committed to the community. For more information, please visit www.commencementbank.com. For information related to the trading of CBWA, please visit www.otcmarkets.com.
For further discussion, please contact the following:
John E. Manolides, Chief Executive Officer | 253-284-1802
Nigel L. English, President & Chief Operating Officer | 253-284-1801
Brandi Parker, Executive Vice President & Chief Financial Officer | 253-284-1803
Forward-Looking Statement Safe Harbor: This news release contains comments or information that constitutes forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) that are based on current expectations that involve a number of risks and uncertainties. Forward-looking statements describe Commencement Bancorp, Inc.'s and Commencement Bank's projections, estimates, plans and expectations of future results and can be identified by words such as "believe," "intend," "estimate," "likely," "anticipate," "expect," "looking forward," and other similar expressions. They are not guarantees of future performance. Actual results may differ materially from the results expressed in these forward-looking statements, which because of their forward-looking nature, are difficult to predict. Investors should not place undue reliance on any forward-looking statement, and should consider factors that might cause differences including but not limited to the degree of competition by traditional and nontraditional competitors, declines in real estate markets, an increase in unemployment or sustained high levels of unemployment; changes in interest rates; greater than expected costs to integrate acquisitions, adverse changes in local, national and international economies; changes in the Federal Reserve's actions that affect monetary and fiscal policies; changes in legislative or regulatory actions or reform, including without limitation, the Dodd-Frank Wall Street Reform and Consumer Protection Act; demand for products and services; changes to the quality of the loan portfolio and our ability to succeed in our problem-asset resolution efforts; the impact of technological advances; changes in tax laws; and other risk factors. Neither Commencement Bancorp, Inc. nor Commencement Bank undertakes any obligation to publicly update or clarify any forward-looking statement to reflect the impact of events or circumstances that may arise after the date of this release.
SOURCE: Commencement Bank
View the original press release on ACCESS Newswire
FAQ
When does Commencement Bancorp's (CBWA) stock repurchase program begin and end?
What methods can CBWA use to repurchase shares under the new program?
What factors will determine the actual number of CBWA shares repurchased?
What regulatory requirements must CBWA follow for the stock repurchase program?
