Item 2. Unregistered Sales of Equity Securities
ITEM 2 Unregistered Sales of Equity Securities and Use of Proceeds
There were no unregistered sales of equity securities during the period covered by this report.
Issuer Purchases of Equity Securities
On January 24, 2020, Bancorp Board of Directors approved a share repurchase program under which Bancorp could repurchase up to $25.0 million of its outstanding common stock through February 28, 2022. During the three months ended June 30, 2021, Bancorp repurchased 297,935 shares at an average price of $36.04 per share for a total cost of $10.7 million. This share repurchase program ended in May 2021 with 691,519 cumulative shares repurchased totaling $25.0 million. The following table reflects repurchases under this share repurchase program for the periods presented.
(in thousands, except per share data) Total Number of Shares Purchased Average Price Paid per Share 1
Total Number of Shares Purchased as Part of Publicly Announced Programs Approximate Dollar Value That May yet Be Purchased Under the Program
Period
April 1-30, 2021 130,680 $ 36.63 130,680 $ 5,959
May 1-31, 2021 167,255 35.58 167,255 $ —
June 1-30, 2021 — — — $ —
Total 297,935 $ 36.04 297,935
1 Average price paid per share excludes commission.
On July 16, 2021, the 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 July 31, 2023.
ITEM 3 Defaults upon Senior Securities
None.
ITEM 4 Mine Safety Disclosures
Not applicable.
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