UNION, S.C. (AFX) - Provident Community Bancshares Inc. said Wednesday its board approved the repurchase of an additional 92,000 shares, or about 5 percent of the company's outstanding common stock.
Repurchases, which will be conducted through open market purchases or privately negotiated transactions, will be made from time to time depending on market conditions and other factors.
Repurchased shares will be held in treasury.
Provident Community Bancshares is the holding company for Provident Community Bank, which operates nine banking locations in the upstate of South Carolina. At June 30, 2006, Provident Community Bancshares had $379.5 million in total assets and stockholders' equity of $24.2 million.
Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.