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Bar Harbor Bankshares Announces Successful Closing of Merger with Guaranty Bancorp, Inc.

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Bar Harbor Bankshares (NYSE American: BHB) has successfully completed its merger with Guaranty Bancorp, Inc., the parent company of Woodsville Guaranty Savings Bank. The combined entity now boasts total assets of approximately $4.8 billion and operates 62 branches across Maine, New Hampshire, and Vermont.

Under the merger terms, each Guaranty common stock share was converted to 1.85 shares of BHB common stock, with cash payments for fractional shares. The acquisition strengthens Bar Harbor's position as a leading Northern New England community bank, offering comprehensive personal and business banking services, along with wealth management through its Bar Harbor Wealth Management subsidiary.

Bar Harbor Bankshares (NYSE American: BHB) ha completato con successo la fusione con Guaranty Bancorp, Inc., la società madre di Woodsville Guaranty Savings Bank. La nuova entità combinata vanta ora attivi totali di circa 4,8 miliardi di dollari e gestisce 62 filiali in Maine, New Hampshire e Vermont.

Secondo i termini della fusione, ogni azione ordinaria di Guaranty è stata convertita in 1,85 azioni ordinarie di BHB, con pagamenti in contanti per le frazioni di azioni. L'acquisizione rafforza la posizione di Bar Harbor come banca comunitaria leader nel Nord del New England, offrendo servizi bancari completi per privati e imprese, oltre a soluzioni di gestione patrimoniale tramite la sua controllata Bar Harbor Wealth Management.

Bar Harbor Bankshares (NYSE American: BHB) ha completado con éxito su fusión con Guaranty Bancorp, Inc., la empresa matriz de Woodsville Guaranty Savings Bank. La entidad combinada ahora cuenta con activos totales de aproximadamente 4.8 mil millones de dólares y opera 62 sucursales en Maine, New Hampshire y Vermont.

Bajo los términos de la fusión, cada acción común de Guaranty se convirtió en 1.85 acciones comunes de BHB, con pagos en efectivo para las fracciones de acciones. La adquisición fortalece la posición de Bar Harbor como un banco comunitario líder en el norte de Nueva Inglaterra, ofreciendo servicios bancarios personales y comerciales integrales, además de gestión patrimonial a través de su subsidiaria Bar Harbor Wealth Management.

Bar Harbor Bankshares (NYSE American: BHB)� Woodsville Guaranty Savings Bank� 모회사인 Guaranty Bancorp, Inc.와� 합병� 성공적으� 완료했습니다. 합병� 회사� 이제 � 48� 달러� � 자산� 보유하고 있으�, 메인, 뉴햄프셔, 버몬트에 걸쳐 62개의 지점을 운영하고 있습니다.

합병 조건� 따라 Guaranty� 보통주는 BHB 보통� 1주당 1.85�� 전환되었으며, 소수 주식� 대해서� 현금으로 지급됩니다. 이번 인수� Bar Harbor� 북부 뉴잉글랜드 지역의 선도적인 커뮤니티 뱅크로서 입지� 강화했으�, 개인 � 기업 금융 서비스와 함께 자회사인 Bar Harbor Wealth Management� 통한 자산 관� 서비스를 제공합니�.

Bar Harbor Bankshares (NYSE American : BHB) a finalisé avec succès sa fusion avec Guaranty Bancorp, Inc., la société mère de Woodsville Guaranty Savings Bank. L'entité combinée dispose désormais de totalisant environ 4,8 milliards de dollars d'actifs et exploite 62 agences dans le Maine, le New Hampshire et le Vermont.

Selon les termes de la fusion, chaque action ordinaire de Guaranty a été convertie en 1,85 actions ordinaires de BHB, avec des paiements en espèces pour les fractions d'actions. Cette acquisition renforce la position de Bar Harbor en tant que banque communautaire majeure du nord de la Nouvelle-Angleterre, offrant des services bancaires complets pour les particuliers et les entreprises, ainsi que la gestion de patrimoine via sa filiale Bar Harbor Wealth Management.

Bar Harbor Bankshares (NYSE American: BHB) hat die Fusion mit Guaranty Bancorp, Inc., der Muttergesellschaft der Woodsville Guaranty Savings Bank, erfolgreich abgeschlossen. Das kombinierte Unternehmen verfügt nun über Gesamtvermögen von etwa 4,8 Milliarden US-Dollar und betreibt 62 Filialen in Maine, New Hampshire und Vermont.

Gemäß den Fusionsbedingungen wurde jede Guaranty-Stammaktie in 1,85 BHB-Stammaktien umgewandelt, wobei Bruchteile von Aktien bar ausgezahlt werden. Die Übernahme stärkt die Position von Bar Harbor als führende Community-Bank in Nord-New England und bietet umfassende Privat- und Geschäftskundendienstleistungen sowie Vermögensverwaltung über die Tochtergesellschaft Bar Harbor Wealth Management.

Positive
  • Combined entity reaches significant scale with $4.8 billion in total assets
  • Expanded footprint to 62 branches across three New England states
  • Strategic expansion of Northern New England market presence
  • Complementary acquisition supporting organic growth strategy
Negative
  • Potential integration risks and challenges in combining operations
  • Share dilution due to stock-based transaction structure
  • Possible unrealized synergies and cost savings as noted in risk factors

Insights

Bar Harbor closed acquisition of Guaranty Bancorp, expanding to $4.8B in assets with 62 branches across three states, strengthening regional presence.

Bar Harbor Bankshares has successfully completed its acquisition of Guaranty Bancorp, creating a $4.8 billion banking institution with an expanded footprint of 62 branches across Maine, New Hampshire, and Vermont. This transaction represents a strategic expansion of Bar Harbor's Northern New England presence.

The merger terms specified an exchange ratio of 1.85 shares of Bar Harbor common stock for each share of Guaranty common stock, with cash payments for fractional shares. This all-stock transaction structure preserves Bar Harbor's capital position while adding Guaranty's Woodsville operations to its portfolio.

This acquisition builds upon Bar Harbor's existing $4 billion asset base, representing approximately 20% growth in the company's asset size. The geographical alignment of both institutions across the same three New England states suggests operational synergies through overlapping market knowledge and potential branch consolidation opportunities.

The timing of this announcement reflects Bar Harbor's strategic approach to complementing organic growth with selective acquisitions. CEO Curtis Simard specifically highlighted this as evidence of their ability to "attract and execute on appropriate acquisitions," suggesting a disciplined approach to external growth that aligns with their existing business model rather than random expansion.

For a regional bank of Bar Harbor's size, this acquisition represents a significant but manageable expansion that strengthens its competitive position in Northern New England's banking landscape while maintaining its community banking focus.

BAR HARBOR, ME / / July 31, 2025 / Bar Harbor Bankshares (NYSE American:BHB) (the "Company") announced the closing of its acquisition of Guaranty Bancorp, Inc. ("Guaranty"), the parent company of Woodsville Guaranty Savings Bank. The combined institution has total assets of approximately $4.8 billion and 62 branches in Maine, New Hampshire and Vermont.

At the effective time of the merger, each outstanding share of Guaranty common stock was converted into the right to receive 1.85 shares of Company common stock, with cash to be paid in lieu of fractional shares.

Curtis Simard, President and Chief Executive Officer of Bar Harbor Bank & Trust, said, "The successful completion of our merger represents an exciting milestone in our journey. Today's closing of Woodsville Guaranty continues to demonstrate our ability to attract and execute on appropriate acquisitions that complement our organic growth. We welcome our new colleagues into our Company as we continue our commitment to profitable growth across all of Northern New England for our teams, our customers and our shareholders alike."

BACKGROUND

Bar Harbor Bankshares (NYSE American:BHB) is the parent company of its wholly owned subsidiary, Bar Harbor Bank & Trust. Operating over 60 locations across Maine, New Hampshire and Vermont, Bar Harbor Bank & Trust is headquartered in Bar Harbor, Maine and has more than $4 billion in assets. As a leading Northern New England community bank, Bar Harbor Bank & Trust offers a full range of personal and business banking services, as well as wealth management services through its subsidiary Bar Harbor Wealth Management. For more information about Bar Harbor Bank & Trust, visit or call 888-853-7100. Member FDIC.

FORWARD LOOKING STATEMENTS

This document contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These include, but are not limited to, statements regarding the proposed transaction and other statements that are based on Bar Harbor's beliefs and expectations but are not historical facts. Forward-looking statements are often, but not always, identified by such words as "believe," "expect," "anticipate," "can," "could," "may," "predict," "potential," "intend," "outlook," "estimate," "forecast," "project," "should," "will," and other similar words and expressions, and are subject to numerous assumptions, risks, and uncertainties, which may change over time.

Although Bar Harbor believes that its expectations with respect to forward-looking statements are based upon reasonable assumptions, actual results or future events could differ, possibly materially, from those indicated in such forward-looking statements as a result of a variety of factors, including, but not limited to, that the expected synergies, cost savings and other financial benefits of the transaction might not be realized within the expected timeframes or might be less than projected; and certain other risks and important factors that are identified in the "Risk Factors" section of Bar Harbor's Annual Report on Form 10-K for the year ended December 31, 2024, Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, and in the other reports filed by Bar Harbor with the Securities and Exchange Commission. Caution should be exercised against placing undue reliance on forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and Bar Harbor undertakes no obligation to update any forward-looking statement, whether to reflect events or circumstances after the date on which the statement is made, to reflect new information or the occurrence of unanticipated events, or otherwise.

SOURCE: Bar Harbor Bank & Trust



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FAQ

What is the exchange ratio for the Bar Harbor Bankshares (BHB) merger with Guaranty Bancorp?

Guaranty Bancorp shareholders will receive 1.85 shares of Bar Harbor Bankshares (BHB) common stock for each share of Guaranty common stock, with cash paid for fractional shares.

What is the total asset size of Bar Harbor Bankshares after the Guaranty Bancorp merger?

Following the merger completion, the combined institution has total assets of approximately $4.8 billion.

How many branches does Bar Harbor Bankshares (BHB) have after the Guaranty merger?

The combined institution now operates 62 branches across Maine, New Hampshire, and Vermont.

What services does Bar Harbor Bankshares (BHB) offer after the merger?

Bar Harbor offers personal and business banking services, as well as wealth management services through its subsidiary Bar Harbor Wealth Management.

Who is the CEO of Bar Harbor Bankshares (BHB)?

Curtis Simard serves as the President and Chief Executive Officer of Bar Harbor Bank & Trust.
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