BuybackMay 7, 2026, 09:06 AM
First Community Corp Approves $7.5M Share Repurchase Plan
AI Summary
First Community Corporation announced that its Board of Directors approved a share repurchase plan, authorizing the company to buy back up to $7.5 million of its common stock. This amount represents approximately 3.4% of the company's total shareholders' equity as of March 31, 2026. The repurchases may occur through open market or privately negotiated transactions until May 5, 2027, with management having discretion over the execution.
Key Highlights
- First Community Corp's Board approved a share repurchase plan.
- The plan authorizes repurchases of up to $7.5 million of common stock.
- This represents approximately 3.4% of total shareholders' equity as of March 31, 2026.
- Repurchases can occur through open market or privately negotiated transactions.
- The plan is effective until May 5, 2027.
- Management has discretion over timing, quantity, and prices of repurchases.
- The company is not obligated to repurchase shares and the plan can be discontinued at any time.