Muncy Bank Financial Inc.’s board of directors authorized and approved a stock repurchase program for the repurchase of up to 5 percent of the company’s outstanding common stock.

The repurchased shares, a news release said, will become treasury stock and be available for the company’s stock benefit plans and for general corporate purposes. The repurchases will be made from time to time in open-market purchases, subject to the availability of shares, general market conditions, the trading price of the stock, alternative uses of capital and the company’s financial performance.

The authorization of the repurchase program reflects management’s belief that the current price of the company’s common stock does not adequately reflect the company’s long-term business and earnings prospects, the news release said. Stock repurchases will be made at the prices and in amounts determined by the company.