Tri-County Financial Group Inc. Announces Repurchase Program

Rhea-AI Summary

Tri-County Financial Group Inc. (OTCQX: TYFG) announced a stock repurchase program on June 14, 2022, allowing for up to $5.0 million in share buybacks. This amount equates to approximately 116,000 shares based on the closing price of $43.10 on the same day. The program offers flexibility in execution, permitting purchases through open market transactions or privately negotiated means, with decisions based on stock price, trading volume, and market conditions. Investors can contact Raymond James for participation details.

Positive

• Authorization for a buyback of up to $5.0 million could enhance shareholder value.
• Repurchase program reflects confidence in the company's future performance.

Negative

• None.

MENDOTA, Ill., June 16, 2022 /PRNewswire/ -- Tri-County Financial Group Inc. (the "Company") (OTCQX: TYFG), the bank holding company for First State Bank, announced that on June 14, 2022, 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 116,000 shares based on the $43.10 closing price of the Company's common stock on June 14, 2022.

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.

 

View original content:https://www.prnewswire.com/news-releases/tri-county-financial-group-inc-announces-repurchase-program-301569975.html

SOURCE Tri-County Financial Group, Inc.

FAQ

What is the total value of the stock repurchase program announced by Tri-County Financial Group?

The stock repurchase program is valued at up to $5.0 million.

How many shares does the repurchase program intend to buy back based on the June 14, 2022, stock price?

The program aims to repurchase approximately 116,000 shares based on the price of $43.10.

Who can investors contact for more information about the stock repurchase program for TYFG?

Investors can contact Raymond James for details about the stock repurchase program.

When was the stock repurchase program approved by Tri-County Financial Group's Board of Directors?

The stock repurchase program was approved on June 14, 2022.

What factors will Tri-County Financial Group consider when repurchasing its stock?

The company will consider stock price, trading volume, general market conditions, and its business conditions.