Business Context and Reporting Period
This Form 8-K was filed by Central Valley Community Bancorp on October 18, 2006. The filing reports a corporate action approved by the Board of Directors regarding the repurchase of the company's common stock.
Key Financial Metrics
The filing does not provide specific financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity figures. The document focuses exclusively on the authorization of a stock repurchase program.
Material Changes
The primary material event is the approval of a new share repurchase program. The company is authorized to repurchase up to approximately $1,000,000 of its outstanding common stock. The program is scheduled to run from October 23, 2006, through June 30, 2007, with shares to be acquired via open market transactions through brokers.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future performance, or discussion of specific risks and contingencies beyond the standard execution of the repurchase program. No unusual items were reported.
Investor Verification Checklist
- Verify the total number of shares repurchased under the $1,000,000 authorization.
- Confirm the average price paid per share during the repurchase period.
- Check subsequent filings to determine if the program was fully utilized or terminated early.
- Review the company's cash position to ensure the repurchase did not impact liquidity constraints.