First Northern Community Bancorp announced a stock repurchase program authorized to buy back up to 984,579 shares (6% of outstanding), valued at approximately $15.6 million, effective May 1, 2026 through April 30, 2028.
Key takeaways
The Board authorized the repurchase of up to 6% of outstanding common shares, totaling 984,579 shares.
The program runs from May 1, 2026 to April 30, 2028, unless terminated earlier by the Board.
Maximum aggregate consideration is approximately $15.6 million based on the March 26, 2026 closing price of $15.85.
Repurchases will be conducted in open market or privately negotiated transactions in accordance with Rule 10b-18.
The Board determined the maximum repurchase amount will not impair the Company's capital.