Northpointe Bancshares stock jumps on $30M buyback program

Northpointe Bancshares Inc (NYSE:NPB) shares rose 5.7% in after-hours trading Monday following the company's announcement of a new stock repurchase program.

The Grand Rapids, Michigan-based bank holding company said its Board of Directors authorized a program to repurchase up to $30 million of its outstanding common stock. The program, approved at a board meeting held on October 22, 2026, will expire on October 22, 2027.

"The Board's authorization reflects confidence in our business model, strong capital position and long-term growth strategy," said Chuck Williams, Chairman and Chief Executive Officer. "This repurchase program provides us with an additional tool to allocate capital prudently while continuing to invest in the growth of our franchise and deliver value to shareholders."

The company stated that the timing, price and amount of any repurchases will depend on several factors, including its capital and financial position, market conditions, the trading price of its common stock, regulatory requirements and applicable securities laws. The repurchase program does not obligate the company to buy back any shares and may be extended, modified, suspended or terminated at any time.

Northpointe Bancshares is the holding company of Northpointe Bank, which provides home loans and retail banking products to communities across the United States.