Central Plains Bancshares, Inc. (NASDAQ:CPBI), a federally chartered savings institution based in Grand Island, Nebraska with a market capitalization of approximately $60 million, disclosed the outcomes of its Annual Meeting of Stockholders held on November 26, 2024.
During the meeting, shareholders re-elected three directors to the company’s board. Russell R. Rerucha received 2,238,377 votes for and 188,438 withheld, with 702,060 broker non-votes. Steven G. Schnieder garnered 2,214,618 votes for, 212,197 withheld, alongside the same number of broker non-votes. Joseph P. Stump achieved 2,242,985 votes for his election, with 183,830 votes withheld and 702,060 broker non-votes.
Additionally, the appointment of Plante & Moran, PLLC as Central Plains Bancshares' independent registered public accounting firm for the fiscal year ending June 30, 2025, was ratified with 2,931,680 votes for, 195,095 against, and 2,100 abstentions.
Furthermore, the shareholders approved the Central Plains Bancshares, Inc. 2024 Equity Incentive Plan with 2,154,926 votes for, 225,711 against, and 46,178 abstentions. The details of the plan were previously included in the proxy statement filed on October 24, 2024.
The company has made these disclosures in accordance with the Securities Exchange Act of 1934, and the report was duly signed by Chairman of the Board, President, and Chief Executive Officer Steven D. Kunzman on December 2, 2024. With an overall Financial Health score rated as "GOOD" by InvestingPro's comprehensive analysis framework, the company maintains a solid financial position.
In other recent news, Central Plains Bancshares, the parent company of Home Federal Bank, has launched a stock repurchase program. This plan authorizes the buyback of up to 200,000 shares, approximately 5.0% of the company's current outstanding common stock.
The repurchase will begin after the company's regular trading blackout period, in alignment with its trading policies. Various methods may be used for the buyback, including open market or private transactions, block trades, and potentially under a Rule 10b5-1 trading plan, in accordance with Securities and Exchange Commission regulations. The company has noted that the repurchase program is not a commitment to buy any specific number of shares and may be adjusted, paused, or terminated at any time due to various factors.
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