Welcome to our dedicated page for Centric Financia news (Ticker: CFCX), a resource for investors and traders seeking the latest updates and insights on Centric Financia stock.
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Centric Financial Corporation (CFCX) announced a Stock Repurchase Program to buy back up to 8.25% of its outstanding shares. This initiative aims to enhance shareholder value and provide liquidity. The repurchases will be executed at the Company's discretion based on market conditions, price, and regulatory requirements. Centric Bank, the Company's affiliated bank, has shown strong performance, being a recognized community bank with over $1.01 billion in assets. The program is seen as a commitment to boosting investor confidence in the future performance of CFCX.
Centric Bank, a subsidiary of Centric Financial Corporation (OTC: CFCX), has been recognized as one of the Top 200 Community Banks in the U.S. for a second consecutive year by American Banker, climbing from #106 to #92. The bank also ranked #14 among commercial lenders in the $500 million to $900 million category of Independent Banker's 2020 Top Lenders. Centric Bank funded over $215 million in PPP loans during the COVID-19 pandemic, showcasing its commitment to supporting small businesses, particularly minority and veteran-owned.