Calvin B. Taylor Bankshares Inc. in Berlin, Md., disclosed that its board has reinstated a stock repurchase program that had been dormant for nearly two years.
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The $407.4 million-asset company said in a Sept. 14 filing with the Securities and Exchange Commission that the buyback program, announced in May 2007, was suspended by its board in January 2010.
Under the pre-existing program, the company can repurchase up to 300,050 shares, or roughly 10%, of its common stock outstanding. The shares would be retired. The filing did not say how many, if any, of the shares had been repurchased before the plan was suspended.
