Mission Bancorp (OTCMKTS:MSBC) Stock In Focus After Extension of Stock Repurchase Plan

On May 2, Mission Bancorp (OTCMKTS:MSBC) came on to focus after it announced that its Board of Directors had decided to extend its stock repurchase initiative. Additionally, the board also gave the approval for a 5% stock dividend. It was a significant new announcement from the company and one that could be seen as a major positive by investors as well.

Trading Data

On Monday, MSBC stock decreased 3.23% to $90.00 with more than 150 shares, compared to volume of 75 shares. The stock moved within a range of $90.00 – 90.00 after opening trade at $90.00.

Mission Bancorp Announces Extension of Stock Repurchase Plan and Declares 5.00% Annual Stock Dividend

AJ Antongiovanni, who is the Chief Executive Officer and President of the company, noted that the move was a reflection of the record earnings that the company had generated in 2022 and also went on to add that the strong performance had continued on to the first quarter of this year.

He added that at a time when the banking industry was going through turmoil amidst the collapse of some banks, Mission Bancorp provided an indication of its commitment to its customers as well as the local community through its strong performance. Since the end of last year, the total deposits with the bank have actually gone up. That was a significant development considering the fact that many banks have seen deposits being withdrawn considerably amidst customer panic. It may be a good time to keep an eye on the stock.