Affinity Bancshares, Inc. announced that its Board of Directors has adopted a new stock repurchase program. Under this program, the company is authorized to repurchase up to 320,480 shares of its common stock.
This authorized repurchase amount represents approximately 5% of the company's current outstanding shares. The program allows for repurchases to be conducted through various methods, including open market or private transactions, block trades, and pursuant to Rule 10b5-1 trading plans.
Repurchases will be made at management's discretion, based on prices considered attractive and in the best interests of both the company and its stockholders. Factors influencing repurchases include stock availability, market conditions, the trading price of the stock, alternative uses for capital, and the company’s financial performance.
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