Willimantic-based SI Financial Group Inc., holding company for Savings Institute Bank and Trust Company, has announced a stock repurchase plan to buy up to 5 percent of the company's common stock.
"Repurchases will be made from time to time depending on market conditions and other factors," according to the company. "There is no guarantee as to the exact number of shares to be repurchased by the company."
The share-repurchase program authorizes the company to acquire more than a half million shares of stock, which trades on the Nasdaq exchange under the symbol SIFI.
The stock traded Wednesday at about $11.40 a share.