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The Board subsequently extended the Share Repurchase Program, which expired on February 28, 2020, with cumulative purchases of 561,355 shares totaling $23.5 million.
−Removed: Approximately $1.5 million in authorized share repurchases expired utilized.
+Added: Approximately $1.5 million in authorized share repurchases expired unutilized.
On January 24, 2020, Bancorp Board of Directors approved a new Share Repurchase Program under which Bancorp may repurchase up to $25.0 million of its outstanding common stock through February 28, 2022.
−Removed: The new share repurchase program began in March 2020 and was suspended indefinitely by the Board of Directors on March 20, 2020 to focus our resources on responding to customer needs during the COVID-19 pandemic.
−Removed: Repurchases under the new program were 58,526 shares totaling $1.8 million, with approximately $23.2 million available for future repurchases.
−Removed: The program will be monitored with the opportunity to reinstitute when the Board deems appropriate.
−Removed: There were 92,664 shares repurchased totaling $3.2 million in the first half of 2020, none of which took place in the second quarter of 2020.
+Added: The new share repurchase program began in March 2020 and was suspended by the Board of Directors on March 20, 2020 as part of the early pandemic response.
+Added: Prior to suspension, repurchases under this program were 58,526 shares totaling $1.8 million, with approximately $23.2 million available for future repurchases.
+Added: In light of continued capital strength, on October 23, 2020, the Board of Directors reactivated this program.
+Added: There were 92,664 shares repurchased totaling $3.2 million in the first nine months of 2020, none of which took place in the third quarter of 2020.
For additional information, refer to Note 7 to the Consolidated Financial Statements in this Form 10-Q.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.