Redwood Capital Bancorp (OTCMKTS:RWCB) Board of Directors Declares Share Buyback Plan

Redwood Capital Bancorp (OTCMKTS:RWCB) announced that its board has authorized a share buyback program on Wednesday, April 1st, RTT News reports. The company plans to buyback $1.00 million in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Redwood Capital Bancorp Price Performance

OTCMKTS RWCB opened at $30.65 on Thursday. Redwood Capital Bancorp has a 1 year low of $20.41 and a 1 year high of $30.84. The business’s 50-day moving average is $29.68 and its 200 day moving average is $28.40.

About Redwood Capital Bancorp

Redwood Capital Bancorp is the bank holding company for Redwood Capital Bank FSB, a community-oriented financial institution headquartered in Santa Rosa, California. As a federally chartered savings bank, it provides a full range of deposit and lending products to individuals, small businesses, and professional clients, with a focus on personalized service and local decision-making.

The company’s deposit portfolio includes checking and savings accounts, money market funds, and certificates of deposit, all designed to meet the needs of both personal and commercial clients.