Allegiance Bancshares, Inc. Announces Stock Repurchase Program
28 February 2020 - 9:00AM
Allegiance Bancshares, Inc. (NASDAQ: ABTX) (“Allegiance”), the
holding company of Allegiance Bank, today announced that its Board
of Directors authorized a stock repurchase program on February 26,
2020, under which Allegiance may repurchase up to one million
shares of its outstanding common stock at the discretion of
management through March 31, 2021. Repurchases under this
program may be made from time to time through open market
purchases, privately negotiated transactions or such other manners
as will comply with applicable laws and regulations. The timing and
actual number of shares repurchased will depend on a variety of
factors including price, corporate and regulatory requirements,
market conditions and other corporate liquidity requirements and
priorities. The repurchase program does not obligate Allegiance to
purchase any particular number of shares and there is no guarantee
as to the exact number of shares that will be repurchased by
Allegiance. Allegiance may suspend, modify or terminate the program
at any time and for any reason, without prior notice. On February
20, 2020, the Company completed its second one million share
repurchase authorization previously approved on July 25,
2019.
About Allegiance Bancshares, Inc.
Allegiance is a Houston, Texas-based bank holding company.
Through its wholly owned subsidiary, Allegiance Bank, Allegiance
provides a diversified range of commercial banking services
primarily to small to medium-sized businesses and individual
customers in the Houston region. Allegiance’s super-community
banking strategy was designed to foster strong customer
relationships while benefiting from a platform and scale that is
competitive with larger local and regional banks. Allegiance Bank
operated 27 full-service banking locations in the Houston region,
which we define as the Houston-The Woodlands-Sugar Land and
Beaumont-Port Arthur metropolitan statistical areas, with 26 bank
offices and one loan production office in the Houston metropolitan
area and one bank office location in Beaumont, just outside of the
Houston metropolitan area. Visit www.allegiancebank.com for more
information.
“Safe Harbor” Statement under the Private Securities
Litigation Reform Act of 1995
This release may contain forward-looking statements within the
meaning of the securities laws that are based on various facts and
derived utilizing important assumptions, present expectations,
estimates and projections about Allegiance and its subsidiaries.
Statements preceded by, followed by or that otherwise include the
words “believes,” “expects,” “continues,” “anticipates,” “intends,”
“projects,” “estimates,” “potential,” “plans” and similar
expressions or future or conditional verbs such as “will,”
“should,” “would,” “may” and “could” are generally forward-looking
in nature and not historical facts, although not all
forward-looking statements include the foregoing words.
Forward-looking statements include information concerning
Allegiance’s future financial performance, business and growth
strategy, projected plans and objectives, as well as projections of
macroeconomic and industry trends, which are inherently unreliable
due to the multiple factors that impact economic trends, and any
such variations may be material. Such forward-looking statements
are not guarantees of future performance and are subject to risks
and uncertainties, many of which are outside of Allegiance’s
control, which may cause actual results to differ materially from
those expressed or implied by the forward-looking statements. These
risks and uncertainties include but are not limited to whether
Allegiance can: continue to develop and maintain new and existing
customer and community relationships; successfully implement its
growth strategy, including identifying suitable acquisition targets
and integrating the businesses of acquired companies and banks;
sustain its current internal growth rate; provide quality and
competitive products and services that appeal to its customers;
continue to have access to debt and equity capital markets; and
achieve its performance objectives. These and various other risk
factors are discussed in Allegiance’s Annual Report on Form 10-K
for the fiscal year ended December 31, 2018 and in other reports
and statements Allegiance has filed with the Securities and
Exchange Commission. Copies of such filings are available for
download free of charge from the Investor Relations section of
Allegiance’s website at www.allegiancebank.com, under Financial
Information, SEC Filings. Any forward-looking statement made by
Allegiance in this release speaks only as of the date on which it
is made. Factors or events that could cause Allegiance’s actual
results to differ may emerge from time to time, and it is not
possible for Allegiance to predict all of them. Allegiance
undertakes no obligation to publicly update any forward-looking
statement, whether as a result of new information, future
developments or otherwise, except as may be required by law.
CONTACT: Allegiance Bancshares, Inc.ir@allegiancebank.com
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