Greene County Bancshares (NASDAQ:GCBS)
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From Sep 2019 to Sep 2024
Greene County Bancshares, Inc. (NASDAQ:GCBS) today
announced that its Board of Directors has extended the Company's
current stock repurchase plan for an additional year. The plan is now
set to expire on December 1, 2006, or earlier if the authorized amount
is reached.
The Company implemented its current stock repurchase plan in
November 2004 by authorizing the repurchase of up to approximately
$4,462,000 of the Company's outstanding common stock. No share
repurchases have been made under the current plan. The currently
authorized amount represents the unexpended authorization under the
Company's former $5,000,000 stock repurchase plan; under the previous
plan, the Company repurchased 25,700 shares of its common stock for an
aggregate purchase amount of approximately $538,000. Currently, Greene
County Bancshares has approximately 9.8 million shares outstanding.
Share repurchases under the Company's program may be made from
time to time in the open market depending on market conditions,
although unsolicited negotiated transactions may occur. Accordingly,
there is no guarantee as to the exact number of shares that may be
repurchased.
Greeneville, Tennessee-based Greene County Bancshares, Inc., with
total assets of approximately $1.6 billion, is the holding company for
Greene County Bank and is the second largest bank holding company
headquartered in the state of Tennessee.
Greene County Bank, founded in 1890, now has 47 branches
throughout East and Middle Tennessee, one branch in Bristol, Virginia,
one branch in western North Carolina, and a trust services office in
Lebanon, Tennessee. Greene County Bank does business in Washington
County, Tennessee as Washington County Bank; in Blount County and Knox
County, Tennessee as American Fidelity Bank; in Montgomery County,
Tennessee as Clarksville Community Bank; in Sumner County, Tennessee
as First Independent Bank; in Rutherford County, Tennessee as
Rutherford Bank and Trust; in Sullivan County, Tennessee as Sullivan
County Bank and First Bristol Bank; in Hamblen County, Tennessee as
Hamblen County Bank; in McMinn County, Tennessee as Bank of Athens and
Bank of Niota; in Hawkins County, Tennessee as Hawkins County Bank and
Bank of Bulls Gap; in Lawrence County, Tennessee as Bank of Lawrence
County; in Cocke County, Tennessee as Cocke County Bank; in Loudon
County, Tennessee as Community Bank of Loudon County; in Monroe
County, Tennessee as Community Trust Bank; in the City of Bristol,
Virginia as First Bristol Bank; in Davidson County and Williamson
County, Tennessee as Middle Tennessee Bank & Trust; and in Wilson
County, Tennessee as President's Trust. In addition, Greene County
Bank also conducts separate businesses through three wholly owned
subsidiaries: Superior Financial Services, Inc., a consumer finance
company; GCB Acceptance Corporation, a consumer finance company
specializing in subprime automobile lending; and Fairway Title Co., a
title insurance company.
This news release may contain forward-looking statements regarding
Greene County Bancshares, Inc., as defined in Section 21E of the
Securities Exchange Act of 1934. All forward-looking statements
involve risk and uncertainty and actual results could differ
materially from the anticipated results or other expectations
expressed in the forward-looking statements. A discussion of factors
that could cause actual results to differ materially from those
expressed in the forward-looking statements is included in the Greene
County Bancshares, Inc. filings with the Securities and Exchange
Commission.