Home Federal Bancorp received regulatory approval for the payment of $10.0M of dividends from the Bank to the company. It is anticipated that the payment will be used for the company’s ongoing operations, as well as fund stock repurchases and dividends to shareholders. The Bank anticipates paying the dividend in four installments over four quarters in 2024. In addition, its Board of Directors approved the company’s twelfth stock repurchase program. The new repurchase program provides for the repurchase of up to 60,000 shares, or approximately 2.0% of the company’s outstanding common stock from time to time, in open market or privately negotiated transactions. The stock repurchase program does not have an expiration date.
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