PCB Bancorp Announces Stock Repurchase Program
04 8월 2023 - 5:05AM
Business Wire
PCB Bancorp (the “Company”) (NASDAQ: PCB), the holding company
of PCB Bank, announced that on August 2, 2023, its Board of
Directors approved a stock repurchase program authorizing the
repurchase of up to 720,000 shares of the Company’s outstanding
common stock, which is approximately 5% of the outstanding shares.
The stock repurchase program expires on August 2, 2024.
Under the stock repurchase program, beginning on August 8, 2023,
the Company may purchase shares of its common stock from time to
time 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.
As part of the stock repurchase program, the Company intends to
enter into a trading plan adopted in accordance with Rule 10b5-1 of
the Securities Exchange Act of 1934, as amended. The 10b5-1 trading
plan would permit common stock to be repurchased at a time that the
Company might otherwise be precluded from doing so under insider
trading laws or self-imposed trading restrictions. The 10b5-1
trading plan will be administered by an independent broker and will
be subject to price, market volume and timing restrictions.
About PCB Bancorp
PCB Bancorp is the bank holding company for PCB Bank, a
California state chartered bank, offering a full suite of
commercial banking services to small to medium-sized businesses,
individuals and professionals, primarily in Southern California,
and predominantly in Korean-American and other minority
communities.
Cautionary Note Regarding
Forward-Looking Statements
This press release contains forward-looking statements. These
forward-looking statements represent plans, estimates, objectives,
goals, guidelines, expectations, intentions, projections and
statements of our beliefs concerning future events, business plans,
objectives, expected operating results and the assumptions upon
which those statements are based. Forward-looking statements
include without limitation, any statement that may predict,
forecast, indicate or imply future results, performance or
achievements, and are typically identified with words such as
“may,” “could,” “should,” “will,” “would,” “believe,” “anticipate,”
“estimate,” “expect,” “aim,” “intend,” “plan,” or words or phases
of similar meaning. We caution that the forward-looking statements
are based largely on our expectations and are subject to a number
of known and unknown risks and uncertainties that are subject to
change based on factors which are, in many instances, beyond our
control, including but not limited to the health of the national
and local economies including the impact to the Company and its
customers resulting from changes to, and the level of, inflation
and interest rates; the Company’s ability to maintain and grow its
deposit base; loan demand and continued portfolio performance; the
impact of adverse developments at other banks, including bank
failures, that impact general sentiment regarding the stability and
liquidity of banks that could affect the Company’s financial
performance and stock price; changes to valuations of the Company’s
assets and liabilities including the allowance for credit losses,
earning assets, and intangible assets; changes to the availability
of liquidity sources including borrowing lines and the ability to
pledge or sell certain assets; the Company's ability to attract and
retain skilled employees, customers' service expectations; cyber
security risks; the Company's ability to successfully deploy new
technology; acquisitions and branch and loan production office
expansions; operational risks including the ability to detect and
prevent errors and fraud; the effectiveness of the Company’s
enterprise risk management framework; costs related to litigation;
changes in laws, rules, regulations, or interpretations to which
the Company is subject; the effects of severe weather events,
pandemics, other public health crises, acts of war or terrorism,
and other external events on our business. These and other
important factors are detailed in the Company’s Annual Report on
Form 10-K for the year ended December 31, 2022 and other filings
the Company makes with the SEC, which are available at the SEC’s
Internet site (http://www.sec.gov) or from the Company without
charge. Actual results, performance or achievements could differ
materially from those contemplated, expressed, or implied by the
forward-looking statements. Any forward-looking statements
presented herein are made only as of the date of this press
release, and the Company does not undertake any obligation to
update or revise any forward-looking statements to reflect changes
in assumptions, the occurrence of unanticipated events, or
otherwise, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230803128942/en/
Timothy Chang Executive Vice President & Chief Financial
Officer 213-210-2000
PCB Bancorp (NASDAQ:PCB)
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PCB Bancorp (NASDAQ:PCB)
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부터 5월(5) 2023 으로 5월(5) 2024