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MENDOTA, Ill., May 12, 2021 /PRNewswire/ -- Tri-County Financial Group, Inc. (the "Company")(OTCQX: TYFG), the bank holding company for First State Bank, announced that on May 11, 2021, its Board of Directors approved a repurchase program authorizing the repurchase of up to $5.0 million of the Company's outstanding common stock. The $5.0 million represents approximately 120,000 shares based on the $42.00 closing price of the Company's common stock on May 6, 2021.
Under the stock repurchase program, the Company may purchase shares of its common stock through various means such as open market transactions, including block purchases, and privately negotiated transactions. The number of shares repurchased and the timing, manner, price and amount of any repurchases will be determined at the Company's discretion. Factors include, but are not limited to, stock price, trading volume and general market conditions, along with the Company's general business conditions. The program may be suspended or discontinued at any time and does not obligate the company to acquire any specific number of shares of its common stock.
Should investors wish to participate in the stock repurchase plan they are encouraged to contact their broker or reach out directly to Raymond James who is assisting the Company in the execution of the repurchase program. Inquiries to Raymond James should be directed to Tim Murnane at (312) 655-2988.
SOURCE Tri-County Financial Group, Inc.