BuybackMay 1, 2026, 04:17 PM
Independent Bank Authorizes New $200M Stock Buyback Plan
AI Summary
Independent Bank Corp. announced that its Board of Directors has authorized a new stock buyback plan, allowing the company to repurchase up to $200 million of its common stock. This new plan, effective April 30, 2026, is set to expire on April 29, 2027. Repurchases are expected to begin once the company completes its existing stock buyback plan from July 2025, which currently has approximately $10.5 million remaining.
Key Highlights
- Independent Bank Corp. Board authorized a new stock buyback plan.
- The new plan allows for repurchases of up to $200 million of common stock.
- The plan is effective April 30, 2026, and scheduled to expire on April 29, 2027.
- Repurchases under the new plan will commence after the completion of the July 2025 plan.
- Approximately $10.5 million remains outstanding on the prior stock buyback plan.
- Repurchases may be made on the open market, in privately negotiated transactions, or via Rule 10b5-1 trading plans.