Item 8.01 Other Events

Effective May 21, 2021, the Board of Directors authorized a plan to repurchase up to $2,500,000 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 may be made during a period through December 31, 2021, on the open market, 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 Company's Insider Trading Policy.

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