SUNRISE, Fla., Nov. 29, 2016 (GLOBE NEWSWIRE) -- Federated National Holding Company (the "Company") (NASDAQ:FNHC), an insurance holding company, announced today that its Board of Directors authorized an additional share repurchase program under which the Company may repurchase up to an additional $10 million of its outstanding shares of common stock through March 1, 2017. The Company may repurchase shares in open market transactions or under Rule 10b5-1 trading plans from time to time in its discretion, based on ongoing assessments of the Company's capital needs, the market price of its common stock and general market conditions. The Company will fund the share repurchase program with cash from operations.
Share repurchases may be made by the Company from time to time in open market transactions at prevailing market prices or under one or more trading plans adopted to comply with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Company will carry out all such repurchase transactions in compliance with Rule 10b-18 under the Exchange Act.