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News Breaks | | | | January 24, 2013 | | 15:43 EDT |  | CPBC | Community Partners Bancorp approves 5% share repurchase program
Community Partners Bancorp, the parent company of Two River Community Bank, announced that the Board of Directors approved and authorized a share repurchase program. The 2013 Program authorizes the repurchase of up to 5% of the outstanding shares of the Company's common stock, or approximately 399,200 shares based on the 7,983,778 shares outstanding as of December 31, 2012, provided that the aggregate amount that the Company may spend on such repurchases is limited to $2.2M. The program will commence after the blackout period ends following the release of the Company's results of operations for the period ended December 31, 2012 and will continue until the earlier of the completion of the repurchase or January 24, 2014. | |
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