HILLS BANCORPORATION
For the period ended Mar 31, 2025. Filed May 9, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 9, 2025
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Unregistered sales of equity securities and use of proceeds
Index
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds |
|---|
The following table sets forth information about the Company’s stock purchases, all of which were made pursuant to the 2005 Stock Repurchase Program, for the three months ended March 31, 2025:
| Period | Total number of sharespurchased | Average price paid pershare | Total number of shares purchased as part of publiclyannounced plans or programs | Maximum number of shares that may yet be purchased under the plans or programs (1) |
|---|---|---|---|---|
| January 1 to January 31 | 5,868 | $72.00 | 5,868 | 428,014 |
| February 1 to February 28 | 9,085 | 73.61 | 9,085 | 418,929 |
| March 1 to March 31 | 17,426 | 75.00 | 17,426 | 401,503 |
| Total | 32,379 | $74.07 | 32,379 | 401,503 |
(1) On July 26, 2005, the Company’s Board of Directors authorized a program to repurchase up to 1,500,000 shares of the Company’s common stock (the “2005 Stock Repurchase Program”). On August 9, 2022, the Company’s Board of Directors authorized the expansion of the 2005 Stock Repurchase Program to allow an additional 750,000 shares for repurchase and the continuation through December 31, 2027. The Company expects the purchases pursuant to the 2005 Stock Repurchase Program to be made from time to time in private transactions at a price equal to the most recent quarterly independent appraisal of the shares of the Company’s common stock and with the Board reviewing the overall results of the 2005 Stock Repurchase Program on a quarterly basis. All purchases made pursuant to the 2005 Stock Repurchase Program since its inception have been made on that basis. The amount and timing of stock repurchases will be based on various factors, such as the Board’s assessment of the Company’s capital structure and liquidity, the amount of interest shown by shareholders in selling shares of stock to the Company at their appraised value, and applicable regulatory, legal and accounting factors.
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