Columbia Financial, Inc., the holding company for Columbia Bank, announced that the company’s board of directors has authorized a new stock repurchase program to acquire up to 1,800,000 shares, or approximately 1.7%, of the company’s currently issued and outstanding common stock.
The stock repurchase program was adopted following the receipt of a notice of non-objection from the Federal Reserve Bank of Philadelphia.
The stock repurchase program permits shares to be repurchased in open market or private transactions, privately negotiated transactions and pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission.
For a one-year period, the stock repurchase program will be in effect, and the timing and actual number of shares repurchased will depend on a variety of factors, including price, corporate and regulatory requirements, market conditions and other corporate liquidity requirements and priorities. The stock repurchase program does not obligate the company to purchase any number of shares and may be suspended or discontinued at any time.
The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate and regulatory requirements, market conditions and other corporate liquidity requirements and priorities. The repurchase program does not obligate the company to purchase any number of shares and may be extended, modified or discontinued at any time.
