IE Business Daily Business news for the Inland Empire.
American Business Bank has begun a stock repurchase program that will take one year to complete.
The program began Sept. 3 and is scheduled to be concluded Aug. 27, 2026, according to a bank statement.
Approved by the bank’s board of directors, the repurchase can’t exceed $11.25 million. It will involve the buying back of 205,453 – approximately 2.3 percent – of the bank’s outstanding shares of common stock.
This is the second time American Business Bank has conducted a stock repurchase.
“We were pleased the first round of the stock buyback was well received,” said Leon Blankstein, the bank’s director and chief executive officer, in the statement, “This continues to be an important tool for managing capital levels, improving shareholder returns and providing additional liquidity for shareholders to sell shares.”
Los Angeles-based American Business Bank has loan production offices in Corona, Ontario and Riverside.
