Glacier Bancorp’s board approved a share repurchase program authorizing up to $200 million of buybacks through December 31, 2027. The program gives management discretion over whether and when to make purchases; it does not commit the bank holding company to buy a minimum number of shares.
Key details
- Glacier Bancorp may repurchase shares in the open market, through block trades or in privately negotiated transactions.
- The CEO, CFO and deputy CFO are authorized to direct purchases. Management will decide the timing, frequency and volume, subject to applicable securities laws.
- The authorization runs through December 31, 2027.
What changes
The program gives Glacier Bancorp a new mechanism to return capital to shareholders by reducing the number of shares outstanding if repurchases are made. The $200 million is a maximum authorization, not a commitment to spend that amount, and the announcement does not specify a purchase schedule.