Item 8.01 Other Events
On January 29, 2020, County Bancorp, Inc. (the "Company") announced that its
board of directors approved a stock repurchase program authorizing the purchase
of up to an aggregate of 673,000 shares of the Company's outstanding common
stock through January 23, 2023. The shares may, at the discretion of management,
be repurchased from time to time in open market purchases as market conditions
warrant or in privately negotiated transactions, including pursuant to a Rule
10b5-1 plan, all as effected to the extent permitted by applicable law,
including pursuant to the safe harbor provided under Rule 10b-18 of the
Securities Exchange Act of 1934, as amended. The Company is not obligated to
purchase any shares under the program, and the program may be discontinued at
any time. The actual timing, number and share price of shares purchased under
the repurchase program will be determined by the Company at its discretion and
will depend on a number of factors, including the market price of the Company's
stock, general market and economic conditions and applicable legal requirements.
The shares authorized to be repurchased represent approximately 10% of the
Company's currently outstanding common stock.
Attached as Exhibit 99.1 is a copy of the press release relating to the
Company's stock repurchase program, which is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
Exhibit
Number Description
99.1 Press release dated January 29, 2020
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