On December 17, 2024, C&F Financial Corporation (NASDAQ:CFFI) disclosed that its Board of Directors had sanctioned a stock repurchase initiative. The program, slated to kick off on January 1, 2025, will allow for the repurchasing of up to $5.0 million of the company’s common stock, running through December 31, 2025.
Under this scheme, repurchases can occur through various avenues, including negotiated transactions or open market dealings, in compliance with Rule 10b5-1 and/or Rule 10b-18 under the Securities Exchange Act of 1934. The reacquired shares will be reinstated as authorized and unissued common stock.
It’s important to note that the company’s existing share repurchase program is set to expire on December 31, 2024.
This announcement comes as a strategic move by C&F Financial Corporation, offering potential benefits to the company and its shareholders. Investors will be keenly observing the progress of this stock repurchase program in the coming year.
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read C&F Financial’s 8K filing here.
About C&F Financial
C&F Financial Corporation operates as a bank holding company for Citizens and Farmers Bank that provides banking services to individuals and businesses. It operates through three segments: Community Banking, Mortgage Banking, and Consumer Finance. The Community Banking segment offers various banking services, including checking and savings deposit accounts, as well as business, real estate, development, mortgage, home equity, and installment loans.
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