BAR HARBOR, ME / ACCESSWIRE / June 23, 2022 / Bar Harbor Bankshares (NYSE American:BHB) (the “Firm”) introduced that its Board of Administrators approved the repurchase of as much as 5% of its excellent widespread inventory, representing roughly 751,000 shares as of Could 31, 2022 underneath a share repurchase plan (the “Plan”). The Plan is allowed to final not than twelve months.
Share repurchases, if any, will probably be made every so often within the open market, via block trades, or in any other case, in personal negotiated transactions. The timing and quantity of any share repurchases will depend upon quite a lot of components, together with, amongst others, securities regulation restrictions (together with limitations offered in Guidelines 10b-18 and 10b5-1 underneath the Securities Change Act of 1934), the buying and selling value of the Firm’s widespread inventory, different regulatory necessities, potential various makes use of for capital, and the Firm’s monetary efficiency. The Plan doesn’t require the Firm to amass any explicit quantity of widespread inventory, and it could be modified or suspended at any time on the Firm’s discretion.
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BACKGROUND
Bar Harbor Bankshares (NYSE American:BHB) is the dad or mum firm of its wholly-owned subsidiary, Bar Harbor Financial institution & Belief. Based in 1887, Bar Harbor Financial institution & Belief is a real group financial institution serving the monetary wants of its purchasers for over 135 years. Bar Harbor supplies full-service group banking with workplace areas in all three Northern New England states of Maine, New Hampshire and Vermont. For extra info, go to www.barharbor.financial institution.
FORWARD LOOKING STATEMENTS
Statements on this press launch relating to the Firm’s intention to repurchase shares of its widespread inventory every so often underneath the inventory repurchase plan are ahead trying statements. There are a variety of necessary components that would trigger precise occasions to vary materially from these steered or indicated by such forward-looking statements. These embody, amongst different, the market value of the Firm’s inventory prevailing every so often, the character of different funding alternatives obtainable to the Firm every so often, the Firm’s money flows from operations, normal financial situations, and different components recognized within the Firm’s most up-to-date Annual Report on Type 10-Ok filed with the Securities and Change Fee.
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CONTACT:
Josephine Iannelli; EVP, Chief Monetary Officer & Treasurer; (207) 288-3314
SOURCE: Bar Harbor Financial institution and Belief
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