West Coast Community Bancorp (Nasdaq: WCCB) announced on November 13, 2026, that its Board of Directors has approved a new share repurchase program. Under this authorization, the company is permitted to repurchase up to $25 million of its common stock. The repurchases may be executed in the open market or through privately negotiated transactions, with the timing and price determined at the company's discretion based on market conditions, stock price, and regulatory requirements.
The program does not create an obligation for the company to purchase a specific number of shares. It is set to expire on December 31, 2028. The company intends to fund the repurchases using internal funds currently held, supplemented as necessary by a dividend from West Coast Community Bank. The program will be conducted in compliance with federal and state securities laws, including Rules 10b-18 and 10b5-1.
West Coast Community Bancorp is the bank holding company for West Coast Community Bank, a full-service community bank headquartered in Santa Cruz, California, with branches across the state. The company emphasized that the program reflects confidence in the strength of its balance sheet and is intended to enhance shareholder value.
