Oak View Bankshares, Inc. Announces Share Repurchase Authorization

Rhea-AI Summary

Oak View Bankshares, Inc. (OTC Pink:OAKV) has announced the authorization of a 3-year stock repurchase program for up to 100,000 shares of the company's common stock. The repurchase may occur through open market purchases or privately negotiated transactions at prevailing market prices, with the actual means and timing to be determined by the company based on various factors.

WARRENTON, VA / ACCESSWIRE / December 1, 2023 / Oak View Bankshares, Inc. ("the Company") (OTC Pink:OAKV), parent company of Oak View National Bank, today announced that its Board of Directors has authorized the repurchase of up to 100,000 shares of the Company's common stock over a 3-year period. Shares of common stock may be purchased through open market purchases or in privately negotiated transactions at prevailing market prices. The actual means and timing of any purchases, target number of shares and range of prices under the program will be determined by the Company in its discretion and will depend on several factors, including the market price of the Company's common stock, general market and economic conditions, and applicable legal and regulatory requirements. The repurchase program does not obligate the Company to repurchase any shares.

About Oak View Bankshares, Inc. and Oak View National Bank

Oak View Bankshares, Inc. is the parent bank holding company for Oak View National Bank, a locally owned and managed community bank serving Fauquier, Culpeper, Rappahannock, and surrounding Counties. For more information about Oak View Bankshares, Inc. and Oak View National Bank, please visit our website at www.oakviewbank.com. Member FDIC.

For additional information, contact Tammy Frazier, Executive Vice President & Chief Financial Officer, Oak View Bankshares, Inc., at 540.359.7155.

SOURCE: Oak View Bankshares, Inc. VA

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https://www.accesswire.com/812283/oak-view-bankshares-inc-announces-share-repurchase-authorization

FAQ

What did Oak View Bankshares, Inc. (OAKV) announce?

Oak View Bankshares, Inc. announced the authorization of a 3-year stock repurchase program for up to 100,000 shares of the company's common stock.

How many shares are included in the repurchase program?

The repurchase program includes up to 100,000 shares of the company's common stock.

How will the stock repurchase be conducted?

The repurchase may occur through open market purchases or privately negotiated transactions at prevailing market prices.

What factors will determine the means and timing of the repurchases?

The means and timing of any purchases will be determined by the company based on factors such as the market price of the company's common stock, general market and economic conditions, and applicable legal and regulatory requirements.

Is the company obligated to repurchase any shares under the program?

The repurchase program does not obligate the Company to repurchase any shares.