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BHB-News
BHB-Events
Company Reports Q2 Loan Loss Provisions of $1.25M
Reports Q2 provisions for credit losses on loans $1.25M vs. $528K last year. Reports Q2 net charge-offs $3.41M vs. $257K last year. Reports Q2 book value per share was $32.80, while tangible book value per common share was $23.43. "During the quarter we affirmed our commitment to consistently delivering strong financial results and long-term shareholder value while remaining dedicated to our customers," said CEO Curtis Simard.
Bar Harbor Bankshares Raises Quarterly Cash Dividend to 34 Cents
Bar Harbor Bankshares declared a quarterly cash dividend of 34c per share, an increase from its previous quarterly dividend of 32c. The dividend is payable on September 18 to shareholders of record as of August 20.
Bar Harbor Bankshares Reports Strong Q1 Results, Increases Dividend by 6%
Bar Harbor Bankshares' President and Chief Executive Officer, Curtis Simard, stated, "We are pleased to announce our first quarter financial results that showcase a strong start to the year. We continue our commitment to profitable growth and maintaining a stable net interest margin. Our calling culture continues to pay off, as we saw over 1,500 accounts to new customer opened during the quarter. The Company continues to build long-term shareholder value which has once again enabled us to increase our dividend per share by 6% over last year's dividend amount, and approve our annual resolution for a stock buyback program of up to 5% of the total outstanding shares. We are well-positioned and looking forward to the rest of the year ahead."
Board Authorizes Repurchase of Up to 5% of Outstanding Shares
The Board authorized the repurchase of up to 5% of the Company's outstanding common stock, representing approximately 837,000 shares as of March 31, 2026 under a share repurchase plan. The Plan, which remains subject to regulatory approval, is authorized to last no longer than twelve months.
Bar Harbor Bankshares to acquire Guaranty Bancorp for $56.94 per share
Bar Harbor Bankshares and Guaranty Bancorp announced that they have signed a definitive merger agreement pursuant to which Bar Harbor will acquire Guaranty in an all-stock transaction valued at approximately $41.6M, or approximately $56.94 per share. Under the terms of the merger agreement, each outstanding share of Guaranty common stock will be exchanged for 1.85 shares of Bar Harbor common stock. The merger is expected to be approximately 30% accretive to Bar Harbor's earnings per share, excluding the impact of one-time transaction costs. The transaction is intended to qualify as a reorganization for federal income tax purposes, and as a result, the shares of Guaranty common stock exchanged for shares of Bar Harbor common stock are expected to be transferred on a tax-free basis. The definitive agreement has been approved by the unanimous votes of the Boards of Directors of both companies. Consummation of the agreement is subject to the approval of Guaranty's shareholders, as well as customary regulatory approvals. The merger is targeted to be completed in the second half of 2025. Guaranty President & CEO, James Graham, will be appointed to Bar Harbor's board of directors, bringing the total number of directors to 11 at closing. Upon closing, Bar Harbor shareholders will own approximately 92% of the combined company's stock, while Guaranty shareholders will own approximately 8%.
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