Summit Bank Group, Inc. Announces Adoption of Repurchase Program
SUMMIT BANK GROUP INC (SBKO)
NASDAQ:AMEX Investor Relations:
sbko.bank/investor-relations
Company Research
Source: Business Wire
EUGENE, Ore.--(BUSINESS WIRE)--Summit Bank Group, Inc. (the “Company”) (OTC Pink: SBKO), the holding company for Summit Bank, announced it has adopted a program to repurchase up to $1,000,000 worth of shares of its common stock. This is the Company’s first stock repurchase program since completing its holding company formation in 2020.Repurchases are expected to commence on or after November 20, 2024. Shares may be repurchased in open market or private transactions or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission.The timing and amount of any repurchases will depend on a number of factors, including the availability of stock, general market conditions, the trading price of the stock, alternative uses for capital, and the Company’s financial performance. Open market purchases will be made in accordance with Rule 10b-18 of the Securities and Exchange Commission and other applicable legal requirements. The Com
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