Valley Republic Bancorp Announces New Stock Repurchase Plan
Valley Republic Bancorp (OTCQX: VLLX) announced a new stock repurchase plan on March 17, 2021. The 2021 Rule 10b-18 Plan allows the company to buy back up to 100,000 shares of its common stock, commencing April 1, 2021, and running until April 1, 2022, unless completed sooner. This strategic move aims to enhance shareholder value and may positively impact stock liquidity. Valley Republic Bancorp operates Valley Republic Bank, offering comprehensive banking services in California.
- Initiation of a buyback plan to repurchase up to 100,000 shares, potentially increasing shareholder value.
- Anticipated improvement in stock liquidity due to share repurchase.
- None.
BAKERSFIELD, Calif., March 19, 2021 /PRNewswire/ -- Valley Republic Bancorp (the "Company") (OTCQX: VLLX), the parent company of Valley Republic Bank (the "Bank"), announced today that the Company has entered into a new Rule 10b-18 repurchase plan (the "2021 10b-18 Plan") on March 17, 2021. Pursuant to the 2021 10b-18 Plan, a maximum of 100,000 shares of the Company's common stock may be repurchased by the Company, beginning April 1, 2021 until the 2021 10b-18 Plan expires on April 1, 2022, unless completed sooner or the 2021 10b-18 Plan is otherwise extended or terminated.
About Valley Republic Bancorp and Valley Republic Bank
Valley Republic Bancorp is a bank holding company formed in 2016. Valley Republic Bank is a wholly-owned subsidiary of Valley Republic Bancorp, headquartered in Bakersfield, California. The Company is subject to the regulatory oversight of the Federal Reserve Bank and the Bank is subject to the regulatory oversight of the Federal Deposit Insurance Corporation and the California Department of Financial Protection and Innovation. Valley Republic Bank is an FDIC-insured, state-chartered, commercial bank in its thirteenth year of operation, having been established in 2009. Valley Republic Bank is a full-service, community bank with three full-service banking offices in Bakersfield, one full-service banking office in Delano, and a Loan Production Office in Fresno. Valley Republic Bank emphasizes professional, high quality banking services provided to a wide range of businesses and professionals. The Bank also provides a full complement of banking services that are available to individuals and non-profit organizations.
Shares of Valley Republic Bancorp common stock are listed on the OTCQX under the ticker symbol "VLLX". For investor information on Valley Republic Bancorp, visit our Valley Republic Bank website at www.valleyrepublic.bank and click on the "Investor Relations" tab.
Company Website: https://www.valleyrepublicbank.com/investor-relations
Forward Looking Statements
This news release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended, and Valley Republic Bancorp and Valley Republic Bank (together, the "Company") intend for such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Future events are difficult to predict, and the expectations described above are necessarily subject to risk and uncertainty that may cause actual results to differ materially and adversely.
Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words "believe," "expect," "anticipate," "intend," "plan," "estimate," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," or "may." These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management's views as of any subsequent date. Forward-looking statements involve significant risks and uncertainties and actual results may differ materially from those presented, either expressed or implied, in this news release. Factors that might cause such differences include, but are not limited to: the Company's ability to successfully execute its business plans and achieve its objectives; changes in general economic and financial market conditions, either nationally or locally, in areas in which the Company conducts its operations; changes in interest rates; continuing consolidation in the financial services industry; new litigation or changes in existing litigation; increased competitive challenges and expanding product and pricing pressures among financial institutions; legislation or regulatory changes which adversely affect the Company's operations or business; loss of key personnel; and changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies.
The Company undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.
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SOURCE Valley Republic Bancorp
FAQ
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