Colony Bankcorp extends $12M stock buyback program through 2026
Colony Bankcorp, Inc. is extending its stock buyback program, originally approved in October 2022, through the end of 2026.
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Rhea-AI Filing Summary
Colony Bankcorp, Inc. is extending its stock buyback program, originally approved in October 2022, through the end of 2026. The program authorizes repurchases of up to $12 million of its outstanding common stock, using methods such as open market purchases and privately negotiated transactions, subject to applicable laws and regulations. The company emphasizes that the timing and number of shares repurchased will depend on factors like share price, regulatory and corporate requirements, market conditions and liquidity priorities, and it is not obligated to repurchase any specific amount. Since the start of the program in 2022, Colony Bankcorp has bought back 318,778 shares for a total of $4,613,000, leaving $7,387,000 available for future repurchases as of this report.
Insights
Colony Bankcorp extends a $12M share repurchase program with $7.39M remaining.
Colony Bankcorp, Inc. has extended its common stock buyback program, first approved in October 2022, so it now runs through the end of 2026. The program allows repurchases of up to $12,000,000 of outstanding common stock via open market and privately negotiated transactions, within legal and regulatory limits.
The company reports that, since the program began, it has repurchased 318,778 shares for a total of $4,613,000. This leaves $7,387,000 authorized for additional repurchases as of this report, but the board can suspend, modify, or terminate the program at any time and there is no commitment to buy a specific number of shares.
The actual impact on shareholders will depend on future execution, which the company states will be influenced by share price, regulatory and corporate requirements, market conditions, and liquidity priorities over the remaining life of the program through 2026.
8-K Event Classification
FAQ
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