Pioneer Bancorp, Inc. announced the adoption of a stock repurchase program for up to approximately 5% of its outstanding common stock.
The program allows for the repurchase of 1,254,027 shares of common stock.
This is Pioneer's second stock repurchase program since its mutual holding company reorganization.
Stock Repurchase Program Adoption
Pioneer announces the adoption of a stock repurchase program for up to 5% of its common stock.
Previous Repurchase Program
Pioneer completed its initial repurchase program, buying back 1,298,883 shares at an average price of $11.83 per share.
Flexibility in Repurchase Methods
Shares may be repurchased through various methods such as open market transactions, block trades, or pursuant to Rule 10b5-1 of the SEC.
- The repurchase program reflects Pioneer's commitment to enhancing shareholder value and confidence.
- Management will decide on repurchases based on factors like stock availability, market conditions, and financial performance.
Pioneer Bancorp, Inc.'s adoption of the second stock repurchase program demonstrates its strategic approach to capital management and commitment to shareholder interests.