Territorial Bancorp Inc.'s board approved a repurchase program, under which the company may buy back up to $5 million of its outstanding shares.
That amount represents about 1.7% of the company's outstanding stock, as of June 7.
Repurchases may be conducted through open-market purchases or privately negotiated transactions through block trades, from time to time.
Honolulu-based Territorial Bancorp is the holding company of Territorial Savings Bank.
