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
Bancorp repurchased 100,000 shares totaling $2.2 million at an average price of $21.72 per share during the second quarter of 2025 under our share repurchase program that expired July 31, 2025. As announced in the Form 8-K filed July 28, 2025, the board of directors authorized the repurchase of up to $25.0 million of its common stock effective July 24, 2025 through July 31, 2027. This stock buyback program replaced the program approved in 2023 which expired July 31, 2025, under which Bancorp repurchased shares totaling $6.4 million.
The following table sets forth for the indicated period, share repurchases of our common stock:
(in thousands, except per share data) Total Number of Shares Purchased Average Price Paid per Share 1 2
Total Number of Shares Purchased as Part of Publicly Announced Programs Approximate Dollar Value That May yet Be Purchased Under the Program 3
Period
April 1, 2025 to April 30, 2025 — $ — — $ 20,766
May 1, 2025 to May 31, 2025 — — — 20,766
June 1, 2025 to June 30, 2025 100 21.72 100 18,591
Three months ended June 30, 2025 100 $ 21.72 100 $ 18,591
1 Average price paid per share excludes commission.
2 The aggregate purchase price and weighted average price per share does not include the effect of excise tax expense incurred on net stock repurchases.
3 Bancorp's share repurchase program approved by the Board of Directors on July 21, 2023, for up to $25.0 million which expired on July 31, 2025.
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ITEM 3 Defaults upon Senior Securities
None.
ITEM 4 Mine Safety Disclosures
Not applicable.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.