Reliant moving quickly with stock buyback

Reliant moving quickly with stock buyback

The leaders of Brentwood-based Reliant Bancorp aren’t letting grass grow under their feet when it comes to buying back the company’s shares.

Reliant’s board of directors last December authorized a $12 million repurchase plan after the stock had followed many other banks down from its summer highs, sliding from nearly $30 to about $23. At their annual shareholders’ meeting last week, Reliant executives said they have since then already spent more than $7 million of that $12 million.

On Tuesday morning, Reliant (Ticker: RBNC) was changing hands at $21.89, up slightly on the day.

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