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Idaho Independent Bank increases stock buyback plan.

Global Banking News-July 12, 2016--Idaho Independent Bank increases stock buyback plan

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Global Banking News - 12 July 2016

Idaho Independent Bank (IIB) (OTC BB: IIBK) has said that its board of directors has approved an increase to IIB's 2014 stock buyback plan to USD5m of the bank's common stock.

The board of directors has also approved an extension of the buyback period to July 29, 2017, or an earlier date in case the USD5m maximum has been expended. As part of the buyback plan, the company has purchased USD1.8m as of July 8, 2016. The stock may be used for IIB's employee benefit plans and/or for other corporate purposes. Purchases are subject to availability, market conditions, and other factors, it said.

IIB is an Idaho state-chartered, commercial bank that operates branches in Boise (3), Caldwell, Coeur d'Alene, Hayden, Meridian, Mountain Home, Nampa, Star, and Sun Valley/Ketchum, Idaho.

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Publication:Global Banking News (GBN)
Geographic Code:1U8ID
Date:Jul 12, 2016
Words:178
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