Bank of Commerce Holdings™ Authorizes Stock Repurchase Program PR Newswire REDDING, Calif., Aug. 21, 2013 REDDING, Calif., Aug. 21, 2013 /PRNewswire/ --Patrick J. Moty, President & Chief Executive Officer of Bank of Commerce Holdings (NASDAQ:BOCH), a $956.6 million bank holding company, and parent company of Redding Bank of Commerce™, announced today that its Board of Directors has authorized the purchase of up to 1,000,000 or 7% of its outstanding shares over a twelve-month period. "The newly authorized stock repurchase plan, the third in the last eighteen months, continues to provide us with an opportunistic and efficient tool to enhance shareholder value. Current valuations and the Board's confidence in the long-term financial outlook of the company provide management an additional opportunity to buy back BOCH stock at attractive prices," said Patrick J. Moty, President and Chief Executive Officer. The stock repurchase plan is effective immediately and authorizes the Company to conduct open market purchases or privately negotiated transactions from time to time when, at management's discretion, it is determined that market conditions and other factors warrant such purchases. There is no guarantee as to the exact number of shares to be purchased, and the stock repurchase plan may be modified, suspended, or terminated without prior notice. The stock repurchase will be funded from existing cash balances. About Bank of Commerce Holdings Bank of Commerce Holdings is a bank holding company headquartered in Redding, California and is the parent company for Redding Bank of Commerce™ which operates under two separate names (Redding Bank of Commerce™ and Roseville Bank of Commerce™, a division of Redding Bank of Commerce). The Bank is an FDIC insured California banking corporation providing commercial banking and financial services through 4 offices located in Northern California. The Bank opened on October 22, 1982. The Company's common stock is listed on the NASDAQ Global Market and trades under the symbol "BOCH". Investment firms making a market in BOCH stock are: Raymond James Financial John T. Cavender 555 Market Street San Francisco, CA 94105 (800) 346-5544 Sandler & O'Neil Bryan Sullivan 919 Third Avenue, 6^th Floor New York, NY 10022 (888) 383-3112 McAdams Wright Ragen, Inc. Joey Warmenhoven 1121 SW Fifth Avenue Suite 1400 Portland, OR 97204 (866) 662-0351 Stifel Nicolaus Perry Wright 1255 East Street #100 Redding, CA 96001 (530) 244-7199 FIG Partners Mike Hedrei 1175 Peachtree Street NE #100 Colony Square Suite 2250 Atlanta, GA 30361 (212) 899-5217 SOURCE Bank of Commerce Holdings Website: http://reddingbankofcommerce.com Contact: Patrick J. Moty, President and Chief Executive Officer, +1-530-722-3953, or Samuel D. Jimenez, Executive Vice President and Chief Financial Officer, +1-530-722-3952, or Andrea Schneck, Vice President and Senior Administrative Officer, +1-530-722-3959
Bank of Commerce Holdings™ Authorizes Stock Repurchase Program
Press spacebar to pause and continue. Press esc to stop.