CVB Financial Corp., the holding company for Citizens Business Bank, has changed its repurchase plan agreement.
The Ontario-based company’s board of directors has increased the number of common stock shares subject to repurchase from six million to 9,577,917 shares, according to a statement.
That voids the repurchase that went into place Nov. 1 2018. The new plan which was approved by the board Tuesday and went into effect immediately, is scheduled expire July 31, 2020, unless the number of share repurchases is completed before that or the plan is terminated.
CVB Financial has repurchased 422,083 shares of its common stock since August 2016, according to the statement.