Other Events

Effective December2, 2019, the Board of Directors authorized a plan to repurchase up to $6,000,000 of outstanding shares of Common Stock in the aggregate; provided that the Company maintains a well-capitalized designation prior to and throughout the share repurchase program. The repurchases will be made during a one-year period, in privately negotiated transactions, or in such other manner as will comply with applicable policy, law and regulations. The repurchase plan was adopted in accordance with guidelines specified in Rule 10b5-1 and Rule 10b-18 under the Securities Exchange Act of 1934, as amended, and the Companys Insider Trading Policy.


Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.


DATE: December 4, 2019


/s/ Joseph M. Solomon

Joseph M. Solomon


(Duly Authorized Officer)

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