FIRST RESOURCE BANCORP, INC. ANNOUNCES STOCK REPURCHASE PROGRAM
First Resource Bancorp, Inc. (OTCQX: FRSB) has announced a stock repurchase program of up to 155,922 shares, or 5% of its outstanding common stock. The program, set to expire on July 16, 2025, demonstrates the company's commitment to enhancing shareholder value. Key points include:
- Repurchases may occur in open market or private transactions
- The program is flexible, with no obligation to acquire a specific amount
- Timing and volume will be at management's discretion
- Repurchased shares will be held as treasury stock for general corporate purposes
Lauren C. Ranalli, President and CEO, emphasized the company's strong capitalization and growing profitability as factors enabling this initiative.
First Resource Bancorp, Inc. (OTCQX: FRSB) ha annunciato un programma di riacquisto di azioni fino a 155.922 azioni, ovvero il 5% delle sue azioni ordinarie in circolazione. Il programma, che scadrà il 16 luglio 2025, dimostra l'impegno dell'azienda a migliorare il valore per gli azionisti. I punti chiave includono:
- I riacquisti possono avvenire attraverso transazioni nel mercato aperto o private
- Il programma è flessibile, senza obbligo di acquisire una quantità specifica
- Il timing e il volume saranno a discrezione della direzione
- Le azioni riacquistate saranno detenute come azioni di tesoreria per scopi aziendali generali
Lauren C. Ranalli, Presidente e CEO, ha enfatizzato la solidità del capitale dell'azienda e la crescente redditività come fattori che rendono possibile questa iniziativa.
First Resource Bancorp, Inc. (OTCQX: FRSB) ha anunciado un programa de recompra de acciones de hasta 155,922 acciones, o el 5% de sus acciones comunes en circulación. El programa, que vencerá el 16 de julio de 2025, demuestra el compromiso de la empresa con el valor para los accionistas. Los puntos clave incluyen:
- Las recompras pueden realizarse en el mercado abierto o en transacciones privadas
- El programa es flexible, sin obligación de adquirir una cantidad específica
- El momento y el volumen estarán a discreción de la administración
- Las acciones recompradas se mantendrán como acciones en tesorería para fines corporativos generales
Lauren C. Ranalli, Presidenta y CEO, enfatizó la sólida capitalización y la creciente rentabilidad de la empresa como factores que hacen posible esta iniciativa.
퍼스트 리소스 뱅콥, Inc. (OTCQX: FRSB)는 최대 155,922주, 즉 유통 중인 보통주 5%에 해당하는 주식 재매입 프로그램을 발표했습니다. 이 프로그램은 2025년 7월 16일에 만료되며, 회사가 주주 가치를 강화하기 위한 노력을 보여줍니다. 주요 내용은 다음과 같습니다:
- 재매입은 공개 시장 또는 비공식 거래에서 발생할 수 있습니다
- 프로그램은 특정 수량을 구매할 의무가 없는 유연성을 가지고 있습니다
- 타이밍과 거래량은 경영진의 재량에 따라 결정됩니다
- 매입된 주식은 일반 회사 용도로 재무주식으로 보유될 것입니다
로렌 C. 라날리, 사장 겸 CEO는 이 이니셔티브를 가능하게 하는 요인으로 회사의 강력한 자본 구조와 증가하는 수익성을 강조했습니다.
First Resource Bancorp, Inc. (OTCQX: FRSB) a annoncé un programme de rachat d'actions allant jusqu'à 155 922 actions, soit 5 % de ses actions ordinaires en circulation. Ce programme, qui expirera le 16 juillet 2025, démontre l'engagement de l'entreprise à améliorer la valeur pour les actionnaires. Les points clés incluent :
- Les rachats peuvent avoir lieu sur le marché ouvert ou dans le cadre de transactions privées
- Le programme est flexible, sans obligation d'acquérir un montant spécifique
- Le calendrier et le volume seront à la discrétion de la direction
- Les actions rachetées seront conservées comme actions de trésorerie à des fins corporatives générales
Lauren C. Ranalli, Présidente et PDG, a souligné la solidité du capital de l'entreprise et sa rentabilité croissante comme des facteurs rendant possible cette initiative.
First Resource Bancorp, Inc. (OTCQX: FRSB) hat ein Aktienrückkaufprogramm von bis zu 155.922 Aktien, oder 5% seiner ausstehenden Stammaktien, angekündigt. Das Programm, das am 16. Juli 2025 ausläuft, zeigt das Engagement des Unternehmens zur Steigerung des Aktionärswertes. Wichtige Punkte sind:
- Rückkäufe können am offenen Markt oder in privaten Transaktionen erfolgen
- Das Programm ist flexibel, ohne Verpflichtung, eine bestimmte Menge zu erwerben
- Zeitpunkt und Umfang liegen im Ermessen des Managements
- Rückgekaufte Aktien werden als eigene Aktien für allgemeine Unternehmenszwecke gehalten
Lauren C. Ranalli, Präsidentin und CEO, betonte die starke Kapitalisierung und wachsende Rentabilität des Unternehmens als Faktoren, die diese Initiative ermöglichen.
- Announcement of stock repurchase program for up to 5% of outstanding shares
- Potential increase in shareholder value through stock buyback
- Company reports strong capitalization
- Consistently growing profitability expanding capital base
- Potential reduction in available capital for other investments or growth opportunities
The Company may repurchase common stock from time to time in the open market, in privately negotiated transactions, or any trading plan that may be adopted in accordance with applicable securities laws and regulations, including rule 10b5-1 of the Securities and Exchange Commission. The timing, volume and nature of such purchases will be determined by the sole discretion of the Company's management, subject to the availability of stock, general market conditions, trading price, alternate uses of capital, the Company's financial performance and applicable legal and regulatory requirements. Repurchased shares will be held as treasury stock and will be available for general corporate purposes.
Lauren C. Ranalli, President and CEO, stated, "Enhancing shareholder value is a priority for the Board of Directors and this stock repurchase program demonstrates that commitment. The Company is well capitalized, and profitability is consistently growing our capital base month after month. We are excited for this opportunity to increase shareholder value through this program."
D.A. Davidson has been selected as managing broker. For information regarding the share repurchase, contact may be made with Troy N. Carlson, Senior Vice President & Community Bank Financial Professional at D.A. Davidson, tncarlson@dadco.com.
About First Resource Bancorp, Inc.
First Resource Bancorp, Inc. is the holding company of First Resource Bank. First Resource Bank is a locally owned and operated
This press release contains statements that are not of historical facts and may pertain to future operating results or events or management's expectations regarding those results or events. These are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward-looking statements may include, but are not limited to, statements about our plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts. When used in this press release, the words "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates", or words of similar meaning, or future or conditional verbs, such as "will", "would", "should", "could", or "may" are generally intended to identify forward-looking statements. These forward-looking statements are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are either beyond our control or not reasonably capable of predicting at this time. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Actual results may differ materially from the results discussed in these forward-looking statements. Readers of this press release are accordingly cautioned not to place undue reliance on forward-looking statements. First Resource Bank disclaims any intent or obligation to update publicly any of the forward-looking statements herein, whether in response to new information, future events or otherwise.
View original content to download multimedia:https://www.prnewswire.com/news-releases/first-resource-bancorp-inc-announces-stock-repurchase-program-302220086.html
SOURCE First Resource Bank
FAQ
How many shares does First Resource Bancorp (FRSB) plan to repurchase?
When does the FRSB stock repurchase program expire?
What is the purpose of FRSB's stock repurchase program?
How will First Resource Bancorp (FRSB) execute the stock repurchases?
