CMUV Bancorp (OTCPK:CMUV) announces a share repurchase program. Under the program, the company will repurchase up to 187,765 shares (provided the Company may increase the number of shares it purchases up to 200,000 shares), representing approximately 10% of its issued share capital for $3 million. The shares will be repurchased at a price of $14.25 per share.

The company intends to fund the purchase of shares and related expenses by cash dividend of up to $2.75 million from its subsidiary, Community Valley Bank, and up to $0.25 million from cash reserves of the Company. The program will continue through August 17, 2023. As of July 20, 2023, the Company had 1,877,651 shares of common stock issued and outstanding