One Valley Bancorp said Wednesday that its board approved a plan to buy back up to 1.5 million, or 4.5%, of its shares.

The buyback is an extension of a program in which the company bought back another 1.5 million shares in five months, from February to June. The company has 33.4 million shares outstanding.

One Valley has $6.3 billion of assets and nine affiliate banks that operate at 78 West Virginia sites and 47 in Virginia.

One Valley's stock rose 2.2% Wednesday, to close at $38.5625 a share.

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