PFS Bancorp, Inc. has authorized the repurchase of up to 155,693 shares of Company common stock.
This authorization is in addition to the ongoing repurchase program for up to 172,500 shares authorized in December 2024.
The new authorization represents around 10% of outstanding shares assuming completion of the initial repurchase program.
Authorization for Additional Stock Repurchases
Up to 155,693 shares authorized, representing approximately 10% of outstanding shares.
Ongoing Repurchase Program
Initial program for up to 172,500 shares authorized in December 2024 is still in progress.
Market Repurchase Plans
Intends to repurchase shares on the open market, including through a trading plan under SEC Rule 10b5-1.
- The additional stock repurchases indicate the company's confidence in its financial position and future prospects.
- Investors may view this move positively as it shows management's commitment to enhancing shareholder value.
PFS Bancorp, Inc.'s decision to authorize more stock repurchases reflects a strategic approach to capital management and demonstrates confidence in the company's future growth.