(Exact name of registrant as specified in its charter)
North Carolina | 000-22787 | 56-2028446 |
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
(Address of principal executive offices & zip code)
(Former Name or Former Address, if Changed Since Last Report)
On November 20, 2006, the board of directors (the “Board”) of Four Oaks Fincorp, Inc. (the “Corporation”) authorized the increase and extension of the Corporation’s previously approved share repurchase program (the “Share Repurchase Program”). The Share Repurchase Program previously allowed the Corporation to repurchase up to 100,000 shares of its common stock through December 31, 2006. The Board authorized the extension of the Share Repurchase Program through December 31, 2007 and increased the number of authorized shares that may be repurchased under the Share Repurchase Program by an additional 100,000 shares, such that the Corporation is now authorized to repurchase up to a total of 200,000 shares of the Corporation’s common stock. As of November 20, 2006, the Corporation had repurchased 65,889 shares under the Sha re Repurchase Program.
None |
Date: November 22, 2006 | By: | /s/ Ayden R. Lee, Jr. |
Ayden R. Lee, Jr. President & Chief Executive Officer |