Katahdin Bankshares Announces Stock Buyback Program, Up to $2.0 Million
HOULTON, Maine, Dec. 30, 2022 /PRNewswire/ -- Katahdin Bankshares Corp. (OTCQX: KTHN), parent company of Katahdin Trust Company, a community bank founded in 1918 serving northern Maine and the greater Bangor and Portland regions, announced that its Board of Directors has approved a Stock Buyback Program. The Program authorizes the purchase of up to
Shares may be repurchased by the Company and may be purchased by Katahdin Trust Company's Employee Stock Ownership Plan (ESOP). All such transactions may be initiated in the discretion of the Company or the ESOP, subject to market conditions and other considerations.
Repurchases or ESOP purchases may be made in the open market, through block trades, or through privately negotiated transactions. Share purchases may be commenced or suspended at any time without prior notice, and there can be no assurances as to how many shares the Company will repurchase, if any, or at what prices any purchases will be made.
The Board of Directors may, without prior notice, alter the terms of this Program at any time, including to change the announced share authorization level or to extend or terminate this Stock Buyback Program.
Katahdin Bankshares Corp. is the bank holding company of Katahdin Trust Company. Founded in 1918, Katahdin Trust is a community bank based in Houlton, Maine with more than
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SOURCE Katahdin Bankshares Corp.