YUBA CITY, Calif., Dec. 19, 2017 (GLOBE NEWSWIRE) -- River Valley Community Bancorp (OTC:RVCB) with its wholly owned subsidiary, River Valley Community Bank (collectively referred to as the “Bank”), today announced that its Board of Directors authorized a stock repurchase program for up to $1,250,000 of the Bank’s common stock through December 31, 2018.
“This repurchase program underscores the Board of Directors and management’s confidence in our business and our commitment to creating value for shareholders,” commented John M. Jelavich, President and CEO. “Our strong balance sheet and earnings growth gives us the ability to return capital while continuing to focus on growth and entering new markets.”
Under the repurchase program, repurchases can be made from time to time using a variety of methods including open market purchases, privately negotiated transactions, or otherwise, all in accordance with applicable legal requirements. The specific timing, price, and size of purchases will depend on prevailing stock prices, general economic and market conditions, and other considerations. The repurchase program does not obligate the Bank to acquire any particular amount of common stock and may be suspended or discontinued at any time at the Bank’s discretion.
The Bank is rated "5-Star Superior" by Bauer Financial and serves its customer base through its offices located at:
- 1629 Colusa Avenue, Yuba City, CA
- 426 Sutton Way, Grass Valley, CA
The Bank offers a full suite of competitive products, services, and banking technology. For more information please visit our website at: www.myrvcb.com or contact John M. Jelavich at 530-821-2469.
Forward Looking Statements: This document may contain comments and information that constitute forward‐looking statements. Forward‐looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by such statements. Forward‐looking statements speak only as to the date they are made. The Bank does not undertake to update forward‐looking statements to reflect circumstances or events that occur after the date the forward‐looking statements are made.
Source:River Valley Community Bancorp