Provident Bancorp (PVBC) said Monday its board adopted a new share repurchase program, allowing the company to repurchase up to 883,366 shares, or about five percent of its outstanding shares.
The share repurchase program was adopted after getting a non-objection from the Federal Reserve Bank of Boston, according to the company.
The program allows the company to repurchase shares in open market or private transactions, through block trades, Provident added.
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