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AltaPacific Bancorp extends buyback program

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AltaPacific Bancorp extends buyback program

Santa Rosa,Calif.-based AltaPacific Bancorp'sboard approved in April an extension of the share repurchase program for anadditional $1.0 million of the company's common stock through April 30, 2017.

During thepast 12 months, the company repurchased and retired 148,000 shares at anaverage cost of $9.91, according to an April 27 earnings release.

The releasealso noted that on Feb. 29, AltaPacificBank opened a new full-service branch in Riverside, Calif.

The companyreported first-quarter net income of $951,000, or 16 cents per share, comparedto the year-ago period's $1.4 million, or 22 cents per share.