CIB Marine Bancshares Initiates Common Stock Repurchase Plan

CIB Marine Bancshares, Inc. (OTCQX: CIBH) has announced a common stock repurchase plan, authorizing the repurchase of up to $1 million worth of its outstanding common stock. This move comes on the heels of the company's successful redemption of preferred stock in 2024 and reflects its commitment to returning capital to shareholders and driving long-term growth.

The repurchase program is expected to commence in the first quarter of 2025, with common stock repurchases made in the open market or through privately negotiated transactions. The timing and extent of the repurchases will be determined by the Board of Directors, who will evaluate repurchase conditions at least quarterly. This approach ensures that the repurchase program aligns with the company's financial performance and market conditions.

CIB Marine's strong financial performance in 2024, with earnings up $4.6 million compared to 2023, has provided the company with the confidence to initiate this common stock repurchase program. The company's President and CEO, Brian Chaffin, stated that the repurchase program "will build off of the momentum of 2024 as we continue to expand meaningful opportunities for shareholder value." This indicates that the company is committed to creating value for its shareholders through strategic capital allocation decisions.

The current market conditions also play a role in the timing and extent of the repurchases. The company recognizes the "important opportunity that current market conditions afford for stock repurchase activity," suggesting that the company believes the current market conditions are favorable for repurchasing shares. This could be due to the availability of shares at attractive prices, which could enhance shareholder value by reducing the number of outstanding shares and potentially increasing earnings per share (EPS).



The common stock repurchase plan by CIB Marine Bancshares, Inc. aligns with the company's long-term growth strategy and shareholder value creation. By repurchasing shares, the company can reduce its outstanding share count, which could lead to an increase in EPS and potentially attract more investors, further driving long-term growth. The Board of Directors will continue to evaluate market conditions and financial performance to determine the terms and conditions for repurchase activity, ensuring that the repurchase program is aligned with the company's long-term growth strategy and shareholder value creation.