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Heartland BancCorp Announces Authorization of a Stock Repurchase Program

Written by Customer Service on . Posted in Public Companies.

WHITEHALL, Ohio, March 13, 2020 (GLOBE NEWSWIRE) — Heartland BancCorp (“Heartland” or the “Company”) (OTCQX: HLAN) the parent company of Heartland Bank, today announced that the board of directors of Heartland (the “Board”) has authorized a stock repurchase program pursuant to which the Company may, from time to time, purchase up to $5 million of its outstanding shares of common stock.  The shares may be repurchased from time to time in privately negotiated transactions or the open market, including pursuant to Rule 10b5-1 trading plans, and in accordance with applicable regulations of the SEC.  The stock repurchase program does not obligate the Company to purchase any particular number of shares, and the timing and exact amount of any repurchases will depend on various factors, including the performance of the Company’s stock price, general market and other conditions, applicable legal requirements and other factors.  The stock repurchase program has an expiration date of September 18, 2020.  The stock repurchase program may be terminated or amended by the Board at any time prior to the expiration date.
“We believe our stock is an attractive investment and repurchasing stock affirms our optimism for the future and offers an excellent means to build long-term value for our shareholders,” stated G. Scott McComb, Chairman and Chief Executive Officer. About Heartland BancCorp

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