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Gouverneur Bancorp board authorizes stock buyback program

Gouverneur Bancorp Inc. (MHC)'s board authorized a stock repurchase program, under which the Gouverneur, N.Y.-based company may buy back up to $2.0 million of its currently issued and outstanding common shares over a 12-month period.

The program was adopted following the receipt of a notice of non-objection from the Federal Reserve Bank of Philadelphia and approved by the New York State Department of Financial Services.