Financial Engineering

Cashmere Valley Bank has announced preliminary results of its share repurchase program, expecting to acquire approximately 200,000 shares at $75.00 each, totaling around $15 million. This represents about 5.12% of outstanding stock, with an 11.1% premium over the prior market price. The offer was oversubscribed, leading to a pro rata acceptance of 60.3758% of tendered shares. Finalization is pending.