CMUV Bancorp Announces First Stock Repurchase Program

EL CENTRO, CA - (NewMediaWire) - October 20, 2023 - CMUV Bancorp (OTCQB:CMUV) today announced that the Board of Directors has adopted a stock repurchase program, and authorized entering into a written stock repurchase agreement with a broker-dealer.  That agreement is expected to include a trading plan in accordance with Rules 10b5-1 and 10b-18 of the Securities and Exchange Act of 1934.  The Board authorized the Company to purchase up to $2,000,000 in aggregate purchase price of the Company’s stock in the open market or in privately-negotiated transactions.  The term of the repurchases under the agreement may be made through December 31, 2024.

Forward-looking statements are based on the current beliefs of the Bank’s directors and executive officers (collectively, “Management”), as well as assumptions made by and information currently available to the Bank’s Management.  All statements regarding the Bank’s business strategy and plans and objectives of Management of the Bank for future operations, are forward-looking statements.

Contact: Jon A. Edney, President/CEO

Phone (760) 352-1889, [email protected]

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