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On October 22, 2021, Bancorp's Board of Directors approved an amendment to the current share repurchase program, which increased the total authorization from $25.0 million to $57.0 million and left the expiration date unchanged.
−Removed: During the nine months ended September 30, 2022, Bancorp repurchased 23,275 shares at an average price of $37.64 per share for a total cost of $877 thousand.
The last activity under the program was in the first quarter of 2022.
−Removed: Cumulative shares repurchased under the current program totaled 618,991 shares at an average price of $36.04 per share, with $34.7 million outstanding as of September 30, 2022.
+Added: Cumulative shares repurchased under the current program total 618,991 shares at an average price of $36.04 per share, with $34.7 million outstanding as of March 31, 2023.
+Added: The Bank opted not to repurchase shares in the first quarter, exercising prudence given recent uncertainties in the marketplace and the importance of maintaining capital and liquidity reserves to absorb the impacts of external events the Bank cannot control.
ITEM 3 Defaults upon Senior Securities
2 unchanged sentences
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.