Redding-based North Valley Bancorp, parent of North Valley Bank, says its board has authorized the repurchase of up to 5 percent of the company's outstanding common shares, or about 340,000 shares.
Approximately 6,835,000 shares of common stock are currently outstanding.
The banking firm said the repurchases will be made periodically in the open market or in privately negotiated transactions.
NVB operates 22 Northern California commercial bank offices, including in Placer and Yolo counties.
Call The Bee's Mark Glover, (916) 321-1184.