Cortland Bancorp's board increased the shares authorized for repurchase under the stock buyback program by 200,000 shares.
The program is effective through Dec. 31.
The Cortland, Ohio-based company said in a regulatory filing that 31,512 shares from the previous 100,000 shares repurchase authorization announced Jan. 29 remain available for purchase.
The aggregate 231,512 shares currently available for repurchase represent about 5.3% of Cortland Bancorp's issued and outstanding 4,338,498 shares.
