Saying its stock is undervalued, Arbor National Holdings Inc. of Westbury, N.Y., has announced a two-year stock buy-back plan.

Ivan Kaufman, the mortgage company's chief executive, said the plan allows it to repurchase up to 250,000 shares of its common stock, to be used for employee-benefit programs.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.