John Marshall Bancorp, Inc. announced that its Board of Directors authorized the extension of its stock repurchase program through August 31, 2026. Under the program, the company is authorized to purchase up to 700,000 shares of its outstanding common stock. The program was originally approved in 2021 and was set to expire on August 31, 2025.
To date, the company has repurchased 93,103 shares, totaling $1.6 million, under the existing program. The extension signifies the Board's continued commitment to returning capital to shareholders and confidence in the company's valuation. No other changes were made to the terms of the program.
The stock repurchase program is expected to be funded using the company’s cash on hand and cash from operations of John Marshall Bank. Repurchases will be made periodically, subject to market and economic conditions, and applicable legal and regulatory requirements.
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