TC Bancshares, Inc. Announces Adoption of Repurchase Plan
THOMASVILLE, GA / ACCESS Newswire / February 12, 2025 /TC Bancshares, Inc. (the "Company") (OTCQX:TCBC), the holding company for TC Federal Bank (the "Bank"), announced it has adopted a program to repurchase up to 200,000 shares of its common stock, or approximately 5.0% of its outstanding shares. This is the Company 's fourth stock repurchase authorization since completing its reorganization and related stock offering in July 2021.
The Company may repurchase shares in the open market or through private transactions.
The timing and amount of any repurchases will depend on a number of factors, including the availability of stock, general market conditions, the trading price of the stock, alternative uses for our capital, and the Company 's financial performance. Open market purchases will be made in accordance with applicable legal requirements. The Company is not obligated to repurchase any particular number of shares under this plan.
About TC Bancshares, Inc.
TC Bancshares, Inc. (OTCQX: TCBC) was formed in July 2021 and serves as the holding company for TC Federal Bank.
About TC Federal Bank
TC Federal Bank was established in Thomasville, Georgia in 1934. What began as a Savings & Loan by the citizens of Thomas County during the Great Depression, TC Federal Bank has grown into a $516 million dollar community bank serving the financial needs of families and businesses in Northern Florida and Southern Georgia. The Bank is built on a long-standing Tradition of Trust and offers expertise in personal and business banking, as well as real estate lending. Throughout its history, TC Federal Bank has stayed open and committed to serving the community through a variety of economic cycles. Today, they are proud to be home to some of the best bankers in the area. Through premium customer service and enriched customer relationships, TC Federal Bank is the bank you can trust for a lifetime. For more information on TC Federal Bank, visit www.tcfederal.com.
Forward-Looking Statements
This press release may contain certain forward-looking statements. Such forward-looking statements may be identified by reference to a future period or periods, or by the use of forward-looking terminology, such as "estimate," "project," "believe," "intend," "anticipate," "plan," "seek," "expect," "will," "may," "continue," or similar terms or variations on those terms, or the negative of those terms. Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include changes to the real estate and economic environment, particularly in the market areas in which the Bank operates; increased competitive pressures; changes in the interest rate environment; general economic conditions or conditions within the securities markets; and legislative and regulatory changes affecting financial institutions, including regulatory compliance costs and capital requirements that could adversely affect the business in which the Company and the Bank are engaged.
The factors listed above could materially affect the Company 's financial performance and could cause the Company 's actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements.
Contact:
Greg Eiford
President/CEO
229-584-1031
SOURCE: TC Bancshares
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