#USA #Shareholder Value #stock buyback #Salinas #Pacific Valley Bank

Pacific Valley Bancorp Launches $3 Million Share Repurchase Program

In a strategic move aimed at boosting shareholder value, Pacific Valley Bancorp, the parent company of Pacific Valley Bank, has announced a share repurchase program worth $3 million. This decision was approved by the company's Board of Directors during a recent meeting, demonstrating their commitment to reinforcing investor confidence.

The share repurchase initiative allows Pacific Valley Bancorp (PVB) to buy back its common stock either in the open market or through privately negotiated transactions. Importantly, the program does not require the company to repurchase a predetermined number of shares, giving it the flexibility to act as market conditions fluctuate.

According to Joseph Robello, Chairman of the Board, this program is a reflection of the company’s robust financial health and long-term potential. He stated, "This share repurchase program reflects our confidence in our financial strength and the long-term value of our company. It represents a proactive and strategic use of capital, reinforcing our commitment to enhancing shareholder value while maintaining the flexibility to invest in future growth."

The execution of the buyback will depend on various factors, including overall market conditions, share prices, compliance with regulatory guidelines, and the company's liquidity needs. The program is set to remain active until July 31, 2028, unless modified by the Board, allowing PVB ample time to execute its plans.

Funding for the repurchases will primarily come from internal resources, ensuring compliance with relevant federal and state securities laws as well as bank regulations governing the practice. Timely updates on this program will be provided to stakeholders in the event of any significant changes, including potential suspensions or modifications. The company emphasizes careful adherence to all applicable guidelines and the strategic nature of this undertaking, aiming to solidify its supportive role for its shareholders.

Founded in 2004, Pacific Valley Bancorp operates as a registered bank holding company for Pacific Valley Bank, which serves clientele in Monterey County with a diverse range of financial services. The bank emphasizes personalized service and community integration across its various locations, including Salinas, King City, Monterey, and Santa Cruz, California. With a focus on offering financial products tailored to small and medium-sized businesses, agricultural enterprises, non-profits, and individual consumers, Pacific Valley Bank strives to provide exceptional banking experiences.

This share buyback announcement follows consistent growth in the company’s operations, underscoring its strategic direction and dedication to shareholders. Analysts and investors alike will keep a close eye on the implementation of this program as it is expected to positively impact the company’s stock performance in the coming years.

As always, the financial landscape is subject to various external factors such as economic shifts, competitive influences, and changes in market regulations. Investors are encouraged to stay informed about both the company’s performance and the broader economic environment that impacts financial institutions.

For additional details, please visit Pacific Valley Bank, where continuous updates regarding the company’s activities and strategic initiatives are posted.

Forward-Looking Statements

This announcement contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. While management believes that these statements reflect the company's current expectations, actual outcomes might differ due to various risks and uncertainties. Investors should exercise caution and not place undue reliance on these projections.