Beverly Hills Bancorp Buyback Set

Beverly Hills Bancorp Inc. has begun a stock buyback program with plans to repurchase about 12.8 percent of its outstanding common stock. The Calabasas-based bank said it would hold a Dutch auction for the stock, with prices set within the range of $9.00 and $9.50 per share. The company will select the lowest price-per-share within the range while allowing it to purchase 2,750,000 shares. The cash offer will expire on Aug. 14.