Jae A. Evans, Chief Executive Officer of Isabella Bank Corporation (OTCQX:ISBA), just announced that the Board of Directors at its December 21, 2016 Board meeting approved a resolution to increase its share repurchase program by an additional 200,000 shares, raising the aggregate authorization under the program to 209,557 shares.
The Corporation has repurchased to date 1,233,017 shares under the existing authorization.
The authorization does not have an expiration date. Stock repurchases under the program may be made from time to time, as the Corporation deems appropriate, based on factors such as share price, market conditions, share availability, purchase needs under the Corporation’s employee stock purchase and dividend reinvestment plan and other relevant factors. There can be no assurance as to the number of shares the Corporation will purchase, if any, and the program may be modified, renewed, suspended or terminated by the Corporation at any time without prior notice.
Headquartered in Mt. Pleasant, Michigan, Isabella Bank Corporation is the bank holding company for Isabella Bank. Founded in 1903 with a focus on community banking, Isabella Bank operates 29 banking offices in seven counties including Clare, Gratiot, Isabella, Mecosta, Midland, Montcalm, and Saginaw.