6 unchanged sentences
Management believes that the Bank will continue to generate adequate earnings to continue to pay comparable common dividends on a quarterly basis.
−Removed: The following schedule summarizes the closing price range of common stock and the cash dividends paid for the fiscal years 2021 and 2020:
−Removed: High Low Dividend
−Removed: 4th Quarter $ 91.72 $ 77.29 $ 0.48
−Removed: 3rd Quarter 78.40 68.70 0.48
−Removed: 2nd Quarter 84.64 75.30 0.48
−Removed: 1st Quarter 98.62 72.60 0.48
−Removed: High Low Dividend
−Removed: 4th Quarter $ 76.82 $ 51.33 $ 0.46
−Removed: 3rd Quarter 70.05 50.12 0.46
−Removed: 2nd Quarter 77.15 56.28 0.46
−Removed: 1st Quarter 83.43 52.37 0.46
As of February 24, 2023, there were 45,064,851 shares of common stock outstanding which were held by approximately 4,196 holders of record.
−Removed: The number of record-holders may not reflect the number of persons or entities holding stock in nominee name through banks, brokerage firms, and other nominees.
−Removed: The closing price of the Company’s common stock on December 31, 2021 was $81.53.
−Removed: The information required by S-K Item 201(d) is incorporated by reference from Item 12.
−Removed: Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters of this Report.
+Added: The number of record-holders may not reflect the number of persons or entities holding stock in
+Added: nominee name through banks, brokerage firms, and other nominees.
+Added: The closing price of the Company’s common stock on December 30, 2022, the last trading day of the year, wa s $84.43.
Comparative Stock Performance Graph
2 unchanged sentences
The lines in the graph and the numbers in the table below represent yearly index levels derived from compounded daily returns that include reinvestment or retention of all dividends.
−Removed: If the yearly interval, based on the last day of a fiscal year, was not a trading day, the preceding trading day was
−Removed: Table o f Contents
+Added: If the yearly interval, based on the last day of a fiscal year, was not a trading day, the preceding trading day was used.
The index value for all of the series was set to 100.00 on December 31, 2017 (which assumes that $100.00 was invested in each of the series on December 31, 2017).
4 unchanged sentences
(b.) Not applicable
−Removed: Table o f Contents
(c.) The following table sets forth information regarding the Company’s repurchases of its common stock during the three months ended December 31, 2022:
6 unchanged sentences
Announced Plan or
−Removed: Program Maximum Number of Shares
+Added: Program Maximum Number (or Approximate Dollar Value) of Shares
That May Yet Be Purchased
4 unchanged sentences
Total — $ — — $ 120,000,000
−Removed: (1) Shares purchased relate to the surrendering of mature shares for the exercise and/or vesting of stock compensation grants and related tax withholding.
−Removed: On January 20, 2022, the Company announced a stock buyback plan which authorizes repurchases by the Company of up to $140 million in common stock.
−Removed: The stock buyback plan was approved by the Company's Board of Directors, pending the receipt of non-objection from the Federal Reserve, which was received on January 19, 2022.
−Removed: Repurchases under the plan may be made from time to time on the open market and in privately negotiated transactions, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Exchange Act.
+Added: On October 20, 2022, the Company announced the commencement of a new share repurchase program which authorizes repurchases by the Company of up to $120 million in common stock.
+Added: Repurchases under the new program may be made from time to time on the open market and in privately negotiated transactions, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Exchange Act.
The extent to which the Company repurchases shares and the size and timing of these repurchases will depend on a variety of factors, including pricing, market and economic conditions, the Company’s capital position and amount of retained earnings and legal and contractual requirements.
−Removed: The repurchase plan is scheduled to expire January 18, 2023 and may be modified, suspended or discontinued without prior notice at any time.
−Removed: Table o f Contents
+Added: The repurchase program is scheduled to expire October 19, 2023 and may be modified, suspended or discontinued without prior notice at any time.
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.