Tri-County Financial Group, Inc. Announces Repurchase Program

Rhea-AI Summary

Tri-County Financial Group (OTCQX: TYFG) announced a new stock repurchase program on May 11, 2021, approved by its Board of Directors. The program allows for the repurchase of up to $5.0 million in common stock, equating to approximately 120,000 shares based on the $42.00 closing price on May 6, 2021. The shares can be repurchased through various means, including open market and privately negotiated transactions, with the timing and number of shares contingent on market conditions and company discretion.

Positive

• Authorization of a $5.0 million stock repurchase program enhances shareholder value.
• Potential repurchase of approximately 120,000 shares could positively impact EPS.

Negative

• The program's success depends on fluctuating market conditions and company discretion.

MENDOTA, Ill., May 12, 2021 /PRNewswire/ -- Tri-County Financial Group, Inc. (the "Company")(OTCQX: TYFG), the bank holding company for First State Bank, announced that on May 11, 2021, its Board of Directors approved a repurchase program authorizing the repurchase of up to $5.0 million of the Company's outstanding common stock.  The $5.0 million represents approximately 120,000 shares based on the $42.00 closing price of the Company's common stock on May 6, 2021.

Under the stock repurchase program, the Company may purchase shares of its common stock through various means such as open market transactions, including block purchases, and privately negotiated transactions. The number of shares repurchased and the timing, manner, price and amount of any repurchases will be determined at the Company's discretion. Factors include, but are not limited to, stock price, trading volume and general market conditions, along with the Company's general business conditions. The program may be suspended or discontinued at any time and does not obligate the company to acquire any specific number of shares of its common stock.

Should investors wish to participate in the stock repurchase plan they are encouraged to contact their broker or reach out directly to Raymond James who is assisting the Company in the execution of the repurchase program. Inquiries to Raymond James should be directed to Tim Murnane at (312) 655-2988.

 

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SOURCE Tri-County Financial Group, Inc.

FAQ

What is the purpose of Tri-County Financial Group's stock repurchase program?

The stock repurchase program aims to enhance shareholder value by repurchasing up to $5.0 million in common stock.

When was the stock repurchase program for TYFG approved?

The stock repurchase program was approved on May 11, 2021.

How many shares will Tri-County Financial Group repurchase under this program?

The program authorizes the repurchase of approximately 120,000 shares based on the $42.00 closing price.

What factors will influence the repurchase timing and amount for TYFG?

Factors influencing the repurchase include stock price, trading volume, general market conditions, and the company's business conditions.

How can investors participate in the stock repurchase plan for TYFG?

Investors can participate by contacting their broker or reaching out to Raymond James, who is assisting with the execution of the program.