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Through the program, the company—which also owns a noncontrolling interest in Johnson Mortgage Co. LLC through its Union First Market Bank subsidiary—can purchase up to 750,000 shares of the company’s common stock on the open market or in privately negotiated transactions.
Management can repurchase the shares at its discretion from time to time through Dec. 31, 2013.
Last year the company completed two separate share repurchases, retiring 970,000 shares, or about 3.5% of the total outstanding.
