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DCB Financial board OKs stock buyback program

's boardauthorized the repurchase of up to 3% of the Lewis Center, Ohio-based company'soutstanding common shares, or about 220,000 shares, up to $1.7 million.

According toan earnings release, the repurchase program is authorized for up to one year.Repurchases may be effected through open market purchases or privatelynegotiated transactions.

The companysaid that net income for the first quarter was $116,000, or 2 cents per share,compared to the year-ago period's $239,000, or 3 cents per share.