Bar Harbor Bankshares Receives Regulatory Approvals for Acquisition of Guaranty Bancorp, Inc.
Rhea-AI Summary
Bar Harbor Bankshares (NYSE American: BHB) has received all necessary regulatory approvals for its previously announced acquisition of Guaranty Bancorp, Inc., the parent company of Woodsville Guaranty Savings Bank. The transaction is expected to close around July 31, 2025, subject to customary closing conditions.
The merger will strengthen Bar Harbor's presence in New Hampshire, adding to its existing network of over 50 locations across Maine, New Hampshire, and Vermont. Bar Harbor Bank & Trust, with more than $4 billion in assets, operates as a leading Northern New England community bank offering personal and business banking services, along with wealth management services through its subsidiary Bar Harbor Wealth Management.
Positive
- Expansion of presence in New Hampshire market through strategic acquisition
- Regulatory approvals secured for the merger, indicating compliance and feasibility
- Addition to existing network of over 50 locations across three states
- Strong asset base of more than $4 billion demonstrates financial stability
Negative
- Potential integration challenges and costs during merger implementation
- Expected synergies and cost savings may not materialize as projected
- Timing of closing remains subject to additional conditions
News Market Reaction
On the day this news was published, BHB declined 2.06%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
BAR HARBOR, ME / ACCESS Newswire / July 10, 2025 / Bar Harbor Bankshares (NYSE American:BHB; the "Company") announced that it had received all necessary regulatory approvals to complete its previously announced acquisition of Guaranty Bancorp, Inc., the parent company of Woodsville Guaranty Savings Bank. The transaction is expected to close on or around July 31, 2025, subject to the satisfaction of customary closing conditions.
Curtis Simard, President and Chief Executive Officer of Bar Harbor Bank & Trust, said, "We are pleased to have received regulatory approval as we continue towards completing the merger of Woodsville Guaranty Savings Bank and Bar Harbor Bank & Trust. We are excited to bring our two companies together to strengthen our New Hampshire presence."
BACKGROUND
Bar Harbor Bankshares (NYSE American:BHB) is the parent company of its wholly owned subsidiary, Bar Harbor Bank & Trust. Operating over 50 locations across Maine, New Hampshire and Vermont, Bar Harbor Bank & Trust is headquartered in Bar Harbor, Maine and has more than
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 proposed transaction might not be realized within the expected timeframes or might be less than projected; the timing of the closing of the proposed transaction might not occur when contemplated, 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
View the original press release on ACCESS Newswire
FAQ
When will Bar Harbor Bankshares (BHB) complete the acquisition of Guaranty Bancorp?
What regulatory approvals did Bar Harbor Bankshares receive for the Guaranty Bancorp acquisition?
How many locations does Bar Harbor Bank & Trust currently operate?
What is the current asset size of Bar Harbor Bank & Trust?
How will the Guaranty Bancorp acquisition affect Bar Harbor's market presence?
