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Mission Bancorp Announces Extension of Stock Repurchase Plan

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Mission Bancorp (OTC Pink: MSBC) has announced the extension of its Rule 10b5-1 stock repurchase plan through April 24, 2025. The extended plan authorizes the company to repurchase up to $1.0 million of its common stock, with previous unused funds being removed. Hilltop Securities will act as the company's agent for share purchases. Mission Bancorp, with $1.8 billion in assets, operates through four subsidiaries including Mission Bank, which has eight Business Banking Centers across California.

Mission Bancorp (OTC Pink: MSBC) ha annunciato l'estensione del suo piano di riacquisto di azioni secondo la Regola 10b5-1 fino al 24 aprile 2025. Il piano esteso autorizza la società a riacquistare fino a 1,0 milioni di dollari delle sue azioni ordinarie, con l'eliminazione dei fondi non utilizzati precedentemente. Hilltop Securities agirà come agente della società per gli acquisti delle azioni. Mission Bancorp, con 1,8 miliardi di dollari di attivi, opera attraverso quattro sussidiarie, tra cui Mission Bank, che dispone di otto Centri di Banking Aziendale in California.

Mission Bancorp (OTC Pink: MSBC) ha anunciado la extensión de su plan de recompra de acciones según la Regla 10b5-1 hasta el 24 de abril de 2025. El plan extendido autoriza a la empresa a recomprar hasta 1,0 millones de dólares de sus acciones ordinarias, eliminando los fondos no utilizados previamente. Hilltop Securities actuará como agente de la empresa para la compra de acciones. Mission Bancorp, con 1,8 mil millones de dólares en activos, opera a través de cuatro filiales, incluida Mission Bank, que cuenta con ocho Centros de Banca Empresarial en California.

미션 뱅콥 (OTC Pink: MSBC)는 2025년 4월 24일까지 10b5-1 규정에 따른 자사주 매입 계획의 연장을 발표했습니다. 연장된 계획은 회사가 100만 달러까지의 보통주를 재매입할 수 있도록 승인하며, 이전에 사용되지 않은 자금은 제거됩니다. 힐탑 증권은 주식 매입에 대한 회사의 대리인으로 활동할 것입니다. 자산이 18억 달러인 미션 뱅콥은 미션 뱅크를 포함해 캘리포니아 전역에 8개의 비즈니스 뱅킹 센터를 운영하는 4개의 자회사를 통해 운영됩니다.

Mission Bancorp (OTC Pink: MSBC) a annoncé l'extension de son plan de rachat d'actions selon la règle 10b5-1 jusqu'au 24 avril 2025. Le plan prolongé autorise la société à racheter jusqu'à 1,0 million de dollars de ses actions ordinaires, les fonds inutilisés précédents étant supprimés. Hilltop Securities agira en tant qu'agent de la société pour les achats d'actions. Mission Bancorp, avec 1,8 milliard de dollars d'actifs, opère à travers quatre filiales, y compris Mission Bank, qui dispose de huit centres de banque d'affaires à travers la Californie.

Mission Bancorp (OTC Pink: MSBC) hat die Verlängerung seines Aktienrückkaufplans gemäß Regel 10b5-1 bis zum 24. April 2025 bekannt gegeben. Der verlängerte Plan autorisiert das Unternehmen, bis zu 1,0 Millionen Dollar seiner Stammaktien zurückzukaufen, wobei zuvor ungenutzte Mittel entfernt werden. Hilltop Securities wird als Agent des Unternehmens für den Aktienkauf fungieren. Mission Bancorp, mit 1,8 Milliarden Dollar an Vermögenswerten, operiert über vier Tochtergesellschaften, darunter die Mission Bank, die acht Geschäftszentren in Kalifornien betreibt.

Positive
  • Authorization of $1.0 million for stock repurchases
  • Strong asset base of $1.8 billion
  • Broad geographical presence with eight business banking centers
Negative
  • Previous unused funds from prior authorization being removed
  • Plan can be suspended or discontinued at any time

BAKERSFIELD, Calif., Oct. 28, 2024 /PRNewswire/ -- Mission Bancorp (OTC Pink: MSBC), announced on April 29, 2024, the extension of its plan under Rule 10b5-1 (the "2022 10b5-1 Plan") to facilitate the repurchase of its common stock. Pursuant to the 2022 10b5-1 Plan, a maximum of $1.0 million of the Company's common stock may be repurchased by the Company.  The 2022 10b5-1 Plan has expired on October 25, 2024, and the Company will extend the Plan for an additional 6 months, through April 24, 2025.  The extension authorizes the Company to repurchase its common stock up to a maximum of $1.0 million.  Remaining funds associated with the prior authorization will be removed from the Plan and the Company may suspend or discontinue the Plan at any time. Hilltop Securities, Inc. is acting as the Company's agent to purchase its shares on pre-arranged terms pursuant to the 2022 10b5-1 Plan.

About Mission Bancorp

With $1.8 billion in assets, Mission Bancorp is headquartered in Bakersfield, California and is the holding company of four wholly owned subsidiaries, Mission Bank, Mission 1031 Exchange, LLC, Mission Community Development, LLC, and Nosbig 88, Inc.  Mission Bank has eight Business Banking Centers, serving the greater areas of Bakersfield, Lancaster, San Luis Obispo, Stockton, Ventura, and Visalia, California. Visit Mission Bank online at www.missionbank.bank. By including the foregoing website address, Mission Bancorp does not intend to, and shall not be deemed to incorporate by reference any material contained therein.

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SOURCE Mission Bank

FAQ

When does Mission Bancorp's (MSBC) extended stock repurchase plan expire?

Mission Bancorp's extended stock repurchase plan will expire on April 24, 2025.

How much is Mission Bancorp (MSBC) authorized to repurchase under the extended plan?

Mission Bancorp is authorized to repurchase up to $1.0 million of its common stock under the extended plan.

What is Mission Bancorp's (MSBC) current asset size?

Mission Bancorp has $1.8 billion in assets according to the announcement.

Who is executing the stock repurchase plan for Mission Bancorp (MSBC)?

Hilltop Securities, Inc. is acting as Mission Bancorp's agent to purchase shares under the repurchase plan.

MISSION BANCORP

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254.75M
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Banks - Regional
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United States of America
Bakersfield