SP Bancorp, Inc. Adopts Stock Repurchase Program of up to 5% of Outstanding Shares
SP Bancorp, Inc. (Nasdaq: SPBC) today announced that its Board of Directors has authorized a stock repurchase program pursuant to which the Company intends to repurchase up to 5% of its issued and outstanding shares, or up to approximately 86,250 shares.
The repurchase program permits shares to be repurchased in open market or private transactions, through block trades, and pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission.
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