American River Bankshares Approves Modification To 2012 Stock Repurchase Program

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6/15/2012 7:37 PM ET

American River Bankshares (AMRB: Quote) said Friday that the Board of Directors has approved and authorized a modification to its stock repurchase program for 2012 to authorize the repurchase during 2012 of up to 6% of the outstanding shares of the company's common stock, up from the previous amount of 5% of the outstanding shares.

The 2012 plan announced on January 26 authorized the repurchase of about 494,500 shares based on the about 9.9 million shares outstanding as of January 26. The modification of the 2012 program increased the number of shares authorized for repurchase from about 494,500 to about 593,500 shares.

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