CIB Marine Bancshares, Inc. Announces Common Stock Repurchase Plan
CIB Marine Bancshares (OTCQX: CIBH) has announced its Board of Directors has authorized a $1 million share repurchase program for 2025, marking the company's first common stock buyback since completing its preferred stock repurchase in 2024.
The repurchases are set to begin in Q1 2025 and will be conducted through open market or private transactions. The timing and volume of purchases will be determined by various factors including market conditions, trading prices, and the company's financial performance.
The program is discretionary and doesn't obligate CIBH to purchase a specific amount within any timeframe. The Board will evaluate repurchase conditions quarterly to determine terms and conditions. President and CEO Brian Chaffin highlighted this initiative as building on 2024's momentum and expanding shareholder value opportunities.
CIB Marine Bancshares (OTCQX: CIBH) ha annunciato che il suo Consiglio di Amministrazione ha autorizzato un programma di riacquisto di azioni da 1 milione di dollari per il 2025, segnando il primo riacquisto di azioni ordinarie dell'azienda dalla conclusione del riacquisto delle azioni privilegiate nel 2024.
I riacquisti sono programmati per iniziare nel primo trimestre del 2025 e saranno effettuati tramite transazioni sul mercato aperto o private. Il tempismo e il volume degli acquisti saranno determinati da vari fattori, inclusi le condizioni di mercato, i prezzi di negoziazione e le performance finanziarie dell'azienda.
Il programma è discrezionale e non obbliga CIBH ad acquistare una quantità specifica entro un determinato lasso di tempo. Il Consiglio valuterà le condizioni di riacquisto su base trimestrale per stabilire termini e condizioni. Il Presidente e CEO Brian Chaffin ha sottolineato questa iniziativa come un modo per costruire sul momento del 2024 e ampliare le opportunità di valore per gli azionisti.
CIB Marine Bancshares (OTCQX: CIBH) ha anunciado que su Junta Directiva ha autorizado un programa de recompra de acciones de 1 millón de dólares para 2025, marcando la primera recompra de acciones ordinarias de la empresa desde la finalización de la recompra de acciones preferentes en 2024.
Las recompras comenzarán en el primer trimestre de 2025 y se llevarán a cabo a través de transacciones en el mercado abierto o privadas. El momento y el volumen de las compras se determinarán en función de varios factores, incluidas las condiciones del mercado, los precios de negociación y el rendimiento financiero de la empresa.
El programa es discrecional y no obliga a CIBH a comprar una cantidad específica dentro de un plazo determinado. La Junta evaluará las condiciones de recompra trimestralmente para determinar términos y condiciones. El presidente y CEO Brian Chaffin destacó esta iniciativa como un medio para continuar el impulso de 2024 y ampliar las oportunidades de valor para los accionistas.
CIB Marine Bancshares (OTCQX: CIBH)는 이사회가 2025년 100만 달러의 자사주 매입 프로그램을 승인했다고 발표했습니다. 이는 2024년 우선주 매입을 완료한 이후 회사의 첫 번째 보통주 매입입니다.
자사주 매입은 2025년 1분기부터 시작될 예정이며, 공개 시장 또는 개인 거래를 통해 진행됩니다. 매입의 타이밍과 규모는 시장 상황, 거래 가격 및 회사의 재무 성과와 같은 다양한 요인에 따라 결정됩니다.
이 프로그램은 재량에 따라 운영되며, CIBH가 특정 기간 내에 특정 수량을 구매할 의무는 없습니다. 이사회는 분기마다 매입 조건을 평가하여 조건을 정할 것입니다. 사장 겸 CEO인 브라이언 차핀(Brian Chaffin)은 이 이니셔티브가 2024년의 모멘텀을 기반으로 하여 주주 가치를 확대하는 기회라고 강조했습니다.
CIB Marine Bancshares (OTCQX: CIBH) a annoncé que son Conseil d'Administration a autorisé un programme de rachat d'actions de 1 million de dollars pour 2025, marquant le premier rachat d'actions ordinaires de la société depuis l'achèvement de son rachat d'actions privilégiées en 2024.
Les rachats devraient commencer au premier trimestre 2025 et seront effectués par le biais de transactions sur le marché ouvert ou privées. Le moment et le volume des achats seront déterminés par divers facteurs, notamment les conditions du marché, les prix de négociation et la performance financière de l'entreprise.
Le programme est discrétionnaire et n'oblige pas CIBH à acheter une quantité spécifique dans un délai donné. Le Conseil évaluera les conditions de rachat trimestriellement afin de déterminer les modalités. Le président et directeur général, Brian Chaffin, a souligné cette initiative comme un moyen de s'appuyer sur l'élan de 2024 et d'élargir les opportunités de valeur pour les actionnaires.
CIB Marine Bancshares (OTCQX: CIBH) hat bekannt gegeben, dass der Vorstand ein Aktienrückkaufprogramm über 1 Million US-Dollar für 2025 genehmigt hat, was den ersten Rückkauf von Stammaktien des Unternehmens seit dem Abschluss des Rückkaufs von Vorzugsaktien im Jahr 2024 darstellt.
Die Rückkäufe sollen im ersten Quartal 2025 beginnen und werden durch den offenen Markt oder private Transaktionen vorgenommen. Der Zeitpunkt und das Volumen der Käufe werden durch verschiedene Faktoren bestimmt, einschließlich der Marktbedingungen, Handelspreise und der finanziellen Performance des Unternehmens.
Das Programm ist diskretionär und verpflichtet CIBH nicht dazu, innerhalb eines bestimmten Zeitrahmens eine bestimmte Menge zu kaufen. Der Vorstand wird die Rückkaufsbedingungen vierteljährlich überprüfen, um die Bedingungen festzulegen. Präsident und CEO Brian Chaffin hob diese Initiative als eine Möglichkeit hervor, auf dem Schwung von 2024 aufzubauen und die Chancen auf den Wert für die Aktionäre zu erweitern.
- Authorization of $1 million share repurchase program demonstrates financial strength
- Successfully completed preferred stock repurchase in 2024
- Program indicates management's confidence in company's valuation
- Potential to enhance shareholder value through stock price support
- Repurchase program is discretionary with no guaranteed minimum purchases
- size of repurchase program at $1 million
BROOKFIELD, Wis., Feb. 04, 2025 (GLOBE NEWSWIRE) -- The Board of Directors of CIB Marine Bancshares, Inc. (the “Company” or “CIB Marine”) (OTCQX: CIBH), the parent company of CIBM Bank, has authorized a 2025 share repurchase program for up to
Repurchases are expected to commence in the first quarter of 2025. Common stock may be repurchased in the open market or through privately negotiated transactions. Common share repurchases will be made at the Company’s discretion, with the timing and amount determined by a number of factors, including, the availability of common shares, general market conditions, trading prices, economic conditions, regulatory requirements, and the Company’s financial performance. All stock purchases will be made in accordance with applicable legal requirements. The repurchase program does not obligate the Company to purchase a specific amount of common stock within any particular time frame, and there is no guarantee that any shares will be repurchased upon criteria established by the Company. The Board of Directors will evaluate repurchase conditions at least quarterly to determine the terms and conditions for repurchase activity.
“Having just completed our very successful preferred stock repurchase plan in October, this common stock repurchase program will build off of the momentum of 2024 as we continue to expand meaningful opportunities for shareholder value,” stated Brian Chaffin, President and CEO. “We recognize the important opportunity that current market conditions afford for stock repurchase activity, and the benefits it provides to our shareholders.”
CIB Marine Bancshares, Inc. is the holding company for CIBM Bank, which operates nine banking offices and has mortgage loan officers and/or offices in nine states. More information on the Company is available at www.cibmarine.com, including recent shareholder letters, links to regulatory financial reports, and audited financial statements.
FORWARD-LOOKING STATEMENTS
CIB Marine has made statements in this release that may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. CIB Marine intends these forward-looking statements to be subject to the safe harbor created thereby and is including this statement to avail itself of the safe harbor. Forward-looking statements are identified generally by statements containing words and phrases such as “may,” “project,” “are confident,” “should be,” “intend,” “predict,” “believe,” “plan,” “expect,” “estimate,” “anticipate” and similar expressions. These forward-looking statements reflect CIB Marine’s current views with respect to future events and financial performance that are subject to many uncertainties and factors relating to CIB Marine’s operations and the business environment, which could change at any time.
There are inherent difficulties in predicting factors that may affect the accuracy of forward-looking statements.
Stockholders should note that many factors, some of which are discussed elsewhere in this release and in the documents that are incorporated by reference, could affect the future financial results of CIB Marine and could cause those results to differ materially from those expressed in forward-looking statements contained or incorporated by reference in this document. These factors, many of which are beyond CIB Marine’s control, include but are not limited to:
- operating, legal, execution, credit, market, security (including cyber), and regulatory risks;
- economic, political, and competitive forces affecting CIB Marine’s banking business;
- the impact on net interest income and securities values from changes in monetary policy and general economic and political conditions; and
- the risk that CIB Marine’s analyses of these risks and forces could be incorrect and/or that the strategies developed to address them could be unsuccessful.
These factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements. Forward-looking statements speak only as of the date they are made. CIB Marine undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Forward-looking statements are subject to significant risks and uncertainties and CIB Marine’s actual results may differ materially from the results discussed in forward-looking statements.
FOR INFORMATION CONTACT:
J. Brian Chaffin, President & CEO
(217) 355-0900
brian.chaffin@cibmbank.com
FAQ
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