Simmons First National Corp., parent company of Simmons Bank, announced Thursday the resumption of the previously approved stock repurchase program.
The program allows for the repurchase of up to $180 million of the company’s Class A common stock.
The program was originally authorized by the board in October 2019 and amended in March.
The company has not made any repurchases under the program since March 31, according to a news release.
As of Thursday, the company has repurchased common stock with an aggregate purchase price of $103,435,703, leaving $76,564,297 available for common stock repurchases under the program.
Independent reporting for Pine Bluff & Jefferson County since 1879.
The timing, pricing, and amount of any repurchases under the program will be determined by the company’s management at its discretion based on a variety of factors.
These factors include, but are not limited to, trading volume and market price of the common stock, corporate considerations, the company’s working capital and investment requirements, general market and economic conditions, and legal requirements.
The program does not obligate the company to repurchase any common stock and may be modified, discontinued, or suspended at any time without prior notice.
The program will end on Oct. 31, 2021, unless terminated sooner, according to the news release.