ACCESS Newswire
23 May 2023, 03:01 GMT+10
BAR HARBOR, ME / ACCESSWIRE / May 22, 2023 / Bar Harbor Bankshares (NYSE American:BHB; the 'Company') announced that its Board of Directors authorized the repurchase of up to 756,000 shares of its outstanding common stock, representing approximately 5% of its shares as of April 30, 2023 under a share repurchase plan (the 'Plan'). The Plan is authorized to last no longer than 12 months.
Share repurchases, if any, will be made from time to time in the open market, through block trades, or otherwise, in private negotiated transactions. The timing and amount of any share repurchases will depend on a variety of factors, including but not limited to, among others, securities law restrictions (including limitations provided in Rules 10b-18 and 10b5-1 under the Securities Exchange Act of 1934, as amended), the trading price of the Company's common stock, other regulatory requirements, potential alternative uses for capital, and the Company's financial performance. The Plan does not require the Company to acquire any particular dollar amount or number of shares of common stock, and it may be modified or suspended at any time at the Company's discretion.
BACKGROUND
Bar Harbor Bankshares (NYSE American: BHB) is the parent company of its wholly-owned subsidiary, Bar Harbor Bank & Trust. Founded in 1887, Bar Harbor Bank & Trust is a true community bank serving the financial needs of its clients for over 135 years. Bar Harbor provides full-service community banking with office locations in all three Northern New England states of Maine, New Hampshire and Vermont. For more information, visit www.barharbor.bank.
FORWARD-LOOKING STATEMENTS
Statements in this press release regarding the Company's intention to repurchase shares of its common stock from time to time under the Plan are forward-looking statements. There are a number of important factors that could cause actual events to differ materially from those suggested or indicated by such forward-looking statements. These include, among other, the market price of the Company's common stock prevailing from time to time, the nature of other investment opportunities available to the Company from time to time, the Company's cash flows from operations, general economic conditions, and other factors identified in the Company's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission.
CONTACT
Josephine Iannelli; EVP, Chief Financial Officer & Treasurer; (207) 288-3314
SOURCE: Bar Harbor Bank and Trust
Get a daily dose of Pittsburgh Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Pittsburgh Star.
More InformationFRANKLIN, Tennessee: Hundreds of thousands of Nissan and Infiniti vehicles are being recalled across the United States due to a potential...
(Photo credit: Eric Hartline-Imagn Images) Zack Wheeler threw a dazzling one-hitter with 12 strikeouts as the Philadelphia Phillies...
(Photo credit: David Banks-Imagn Images) The Chicago Cubs have been beset by pitching injuries this season, with Jameson Taillon...
(Photo credit: Ron Chenoy-Imagn Images) The Chicago White Sox didn't win their 31st game of 2024 until Aug. 21 en route to setting...
(Photo credit: Bob DeChiara-Imagn Images) As the No. 2 overall pick in the 2024 draft, Cincinnati Reds right-hander Chase Burns certainly...
(Photo credit: John E. Sokolowski-Imagn Images) Addison Barger hit an RBI single with two outs in the 11th inning and the Toronto...
MOSCOW, Russia: This week, Russia became the first country to officially recognize the Taliban as the government of Afghanistan since...
CAIRO, Egypt: This week, both Hamas and Israel shared their views ahead of expected peace talks about a new U.S.-backed ceasefire plan....
WASHINGTON, D.C.: The Trump administration has made public a visa decision that would usually be kept private. It did this to send...
MADRID, Spain: Liverpool footballer Diogo Jota and his younger brother, André Silva, have died in a car accident in Spain. Spanish...
LONDON, U.K.: An unrelenting heatwave sweeping across Europe has pushed early summer temperatures to historic highs, triggering deadly...
President Donald Trump's plans to build a space-based Golden Dome missile defense shield have drawn immediate criticism from China,...