Howard Bancorp Announces Stock Repurchase Program
Howard Bancorp, Inc. (HBMD)
US:NASDAQ Investor Relations:
howardbank.com/about-us/investor-relations
Company Research
Source: Business Wire
BALTIMORE--(BUSINESS WIRE)--Howard Bancorp, Inc. (“Howard Bancorp” or the “Company”) (Nasdaq: HBMD), the parent company of Howard Bank (“Howard Bank” or the “Bank”), announced today that it has received a non-objection letter from the Federal Reserve Bank of Richmond to allow the Company to repurchase shares of its common stock. Under the repurchase program, management is authorized to repurchase an aggregate amount of up to $7.0 million of the outstanding shares of the Company's common stock. The program will expire in December of 2020.Mary Ann Scully, the Chair and Chief Executive Officer of the Company stated, “Howard Bancorp remains committed to enhancing long term shareholder value and in this challenging market for bank stocks, we see this program as an additional capital management tool to complement our continued growth, revenue and expense management emphasis."Under the stock repurchase program, shares of common stock may be repurchased by the Company from time to time in
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