CONROE, Texas, June 15, 2020 /PRNewswire/ -- Spirit of Texas Bancshares, Inc. (NASDAQ: STXB) (the “Company”), the parent company of Spirit of Texas Bank, today announced an amendment to its stock buyback program (the “Amended Program”) pursuant to which the Company may, from time to time, purchase an additional $10.0 million of its outstanding shares of common stock and extending the conclusion of the Amended Program until June 18, 2021.
The shares may be repurchased from time to time in privately negotiated transactions or the open market, including pursuant to Rule 10b5-1 trading plans, and in accordance with applicable regulations of the SEC. The timing and exact amount of any repurchases will depend on various factors including, the performance of the Company’s stock price, general market and other conditions, applicable legal requirements and other factors. The Amended Program may be terminated or amended by the Board of Directors at any time prior to the expiration date.
Spirit of Texas Bancshares, Inc., through its wholly-owned subsidiary, Spirit of Texas Bank, provides a wide range of relationship-driven commercial banking products and services tailored to meet the needs of businesses, professionals and individuals.