Redwood Capital Bancorp Announces Third Stock Repurchase Program

Core Viewpoint - Redwood Capital Bancorp has announced a third stock repurchase program, authorizing up to $1 million for the repurchase of its common stock, reflecting the company's commitment to long-term shareholder value [1][4]. Summary by Sections Stock Repurchase Program - The Board of Directors has authorized a new stock repurchase program, which replaces the previous two programs, and aims to repurchase up to $1 million of common stock [1][2]. - The third stock repurchase program is effective immediately and will remain in effect until February 28, 2026, unless terminated or extended earlier by the Board [3]. Financial Strength and Commitment - John E. Dalby, President and CEO, emphasized the company's confidence in its financial strength and long-term profitability, stating that the new authorization builds on the success of earlier repurchase programs [4]. - The company has successfully completed its prior two repurchase programs, during which a total of 78,612 shares were repurchased [2]. Funding and Compliance - Funding for the stock repurchase program will primarily come from the company's existing internal funds, supplemented by dividends from its wholly owned subsidiary, Redwood Capital Bank [5]. - The implementation of the repurchase will comply with all relevant federal and state securities laws [5].