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Patrick J. Moty, President & CEO of Bank of Commerce Holdings (NASDAQ: BOCH) announced today that its Board of Directors has authorized the purchase of up to 1,000,000 or 6% of its outstanding shares over a twelve-month period.
The stock repurchase plan authorizes the Company to conduct open market purchases or privately negotiated transactions from time to time when, at management’s discretion, it is determined that market conditions and other factors warrant such purchases. There is no guarantee as to the exact number of shares to be purchased, and the stock repurchase plan may be modified, suspended, or terminated without prior notice.
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