FRANKLIN, Ind.--(BUSINESS WIRE)--The Board of Directors of Third Century Bancorp (OTCPINK: TDCB) (the “Company”), the holding company for Mutual Savings Bank, approved the termination of the Company's stock repurchase program on December 21, 2017.
The repurchase program was authorized to repurchase up to 127,270 shares, or 10% of the Company's outstanding shares, beginning in November 2015. As of the termination date of the program 92,376 shares, or 72.6%, of the authorized shares for the repurchase program were repurchased by the Company.
Founded in 1890, Mutual Savings Bank is a full-service financial institution based in Johnson County, Indiana. In addition to its main office at 80 East Jefferson Street, Franklin, Indiana, the bank operates branches in Franklin at 1124 North Main Street and the Franklin United Methodist Community, as well as in Nineveh and Trafalgar, Indiana.