BV Financial, Inc. announced the adoption of a new stock repurchase program, having received non-objection from the Federal Reserve Bank of Richmond. This program authorizes the repurchase of up to 10% of the company's outstanding shares of common stock. This represents approximately 10,594,044 shares available for repurchase under the new authorization.
This marks the second stock repurchase program initiated by BV Financial since the completion of its mutual-to-stock conversion on July 31, 2023. The company completed its first stock repurchase program in January 2025, demonstrating a consistent strategy of capital management.
The new repurchase program indicates management's belief that the company's stock is an attractive investment at current levels. Such programs can reduce the number of outstanding shares, which can lead to an increase in earnings per share and enhance shareholder value.
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