Bar Harbor Bankshares Continues Its Stock Repurchase Plan
23 Juli 2014 - 10:05PM
Business Wire
Bar Harbor Bankshares (NYSE MKT: BHB) (the “Company”), today
announced that its Board of Directors has authorized the
continuation of the Company’s existing stock repurchase plan
through August 21, 2016. No other changes were made to the
plan.
In August 2008, the Company’s Board of Directors approved a
program to repurchase up to 450,000 shares of the Company’s common
stock, or approximately 10.2% of the shares then currently
outstanding. The new stock repurchase program became effective as
of August 21, 2008, and was authorized to continue for a period of
up to twenty-four consecutive months. In August of 2010, the
Company’s Board of Directors authorized the continuance of this
program through August 17, 2012 and in August of 2012, authorized
the continuance of this program through August 17, 2014. Depending
on market conditions and other factors, these purchases may be
commenced or suspended at any time, or from time to time, without
prior notice and may be made in the open market or through
privately negotiated transactions. As of June 30, 2014, the Company
had repurchased 157,428 shares of stock under this plan, at a total
cost of $2,937,000 and an average price of $18.65 per share.
About Bar Harbor Bankshares
Bar Harbor Bankshares is the parent company of its wholly owned
subsidiary, Bar Harbor Bank & Trust. Bar Harbor Bank &
Trust, founded in 1887, provides full service community banking
with fifteen branch office locations serving downeast, midcoast,
and central Maine. Find us at www.BHBT.com
Bar Harbor BanksharesCurtis C. Simard,
207-288-3314President and Chief Executive Officer
Bar Harbor Bankshares (AMEX:BHB)
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