This Policy sets forth guidelines to be followed by Holding Company in the purchase of Holding Company stock from time to time from the shareholders of Holding Company. The purpose of this Policy is to more formally state Holding Company's general willingness to purchase its stock from time to time from shareholders interested in selling their stock at the price established in accordance with this Policy, subject, however, to the provisions of this Policy, including, without limitation, the retention of capital by Holding Company and the obligation of Holding Company to serve as a source of strength to Bank.
This model policy is intended to be modified by the bank to meet its specific organization’s needs.
Materials in this policy were prepared by the Boardman & Clark LLP Banking Group.
