GREENVILLE, N.C.--(BUSINESS WIRE)--Union Bank (OTCQX: UBNC) announces that it has received regulatory approval to continue its common stock repurchase program.
Union Bank will resume its common stock repurchase program immediately. Regulatory approval was received November 29, 2018 for a twelve-month period. The Bank will make purchases in the open market and as such the program is available to shareholders on an equitable basis. Actual repurchases will be subject to the availability of stock, general market conditions, the trading price of stock, alternative uses for capital and the Bank’s financial performance.
Rob Jones, President and Chief Executive Officer, stated, “Management and the Board of Directors will continue to evaluate potential stock repurchases and execute on transactions that are believed to be beneficial to shareholders. The stock repurchase program is a direct reflection of the strength of the Bank’s performance, balance sheet and capital position.”
Union Bank is headquartered in Greenville, North Carolina and operates 15 branches located in 11 counties throughout Eastern and Central North Carolina. Union Bank stock is traded on the OTCQX under the symbol UBNC. The Bank’s website is www.unionbanknc.com.