First Western Bancorp has reauthorized a stock repurchase program to buy back as much as 3%, or about 235,000, of the company's 7.8 million outstanding shares.
The program, first established last summer, was scheduled to expire Dec. 31 but was extended for another year. So far, 35,000 shares have been repurchased against an original authorization of 250,000.
The shares will be held for general purposes, including reissuing into the dividend reinvestment plan and employee benefit plans.
First Western is the $1.6 billion-asset parent of First Western Bank, First Western Bank, and First Western Trust Services Co., with 42 branches in seven Pennsylvania counties.