American Business Bank Announces Stock Repurchase Program
The Stock Buy Back Program will become effective following the issuance of the Bank’s fourth quarter earnings release, consistent with the Bank’s trading policies and will expire on January 7, 2026 unless terminated or completed earlier by the Bank. The shares may be repurchased in the open market, by block purchases, or in privately negotiated transactions. Repurchases will be made at management’s discretion at prices management considers to be attractive and in the best interests of both the Bank and its shareholders, subject to the availability of stock, general market conditions, the trading price of the stock, alternative uses for capital, and the Bank’s financial performance. Open market purchases will be subject to Securities and Exchange Commission and other applicable legal requirements. The Stock Buy Back Program may be terminated or amended by the Bank at any time prior to the expiration date.
Leon Blankstein, Chief Executive Officer and Director, stated, “Our strong earnings over the past several years have allowed us the ability to repurchase shares and maintain a strong capital position. Share repurchases provide an important tool for managing capital levels, improving shareholder returns and providing additional liquidity for shareholders to sell shares. This new program provides the opportunity to repurchase shares over the next year and to highlight the Bank’s strong long-term financial performance. We believe that repurchases represent a value-enhancing deployment of capital.”
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ABOUT AMERICAN BUSINESS BANK
American Business Bank, headquartered in downtown
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Karen Schoenbaum
EVP/CFO
(213) 430-4000
www.americanbb.bank
Source: American Business Bank