Fulton Financial Corp.'s board approved the repurchase of up to $100 million of the company's common shares, or about 3.9% of its outstanding shares, based on the closing price of the stock and the number of shares outstanding on Oct. 11.

The approval expires Dec. 31, 2020. Shares may be repurchased from time to time in open market or privately negotiated transactions.

The Lancaster, Pa.-based company repurchased approximately $48.0 million of its outstanding shares during the third quarter, completing the stock buyback authorized under the $100 million repurchase program announced in March.