Katahdin Bankshares Announces Stock Buyback Program, Up to $2.0 Million

Rhea-AI Summary

Katahdin Bankshares (OTCQX: KTHN) announced a Stock Buyback Program authorizing up to $2,000,000 of common stock repurchases through December 31, 2026. Purchases may be made by the company or by the bank's Employee Stock Ownership Plan (ESOP) in the open market, via block trades, or through privately negotiated transactions.

Repurchases are discretionary, may be commenced or suspended at any time, and there is no assurance as to the number of shares or prices at which purchases will occur. The Board may alter, extend, or terminate the program without prior notice.

Positive

• Authorizes up to $2.0M in share repurchases through Dec 31, 2026
• Permits repurchases by company or by the ESOP
• Allows multiple execution methods: open market, block, or private trades

Negative

• No assurance on number of shares to be repurchased or purchase prices
• Repurchases may be commenced or suspended at any time
• Board may alter or terminate the program without prior notice

News Market Reaction

-0.38%

1 alert

-0.38% News Effect

On the day this news was published, KTHN declined 0.38%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

HOULTON, Maine, Jan. 5, 2026 /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 $2,000,000 of the Company's outstanding shares of Common Stock through December 31, 2026.

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.

About Katahdin Bankshares Corp.
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 16 locations and more than $1.09 billion in assets. Katahdin Bankshares Corp. common stock is quoted on the OTC Markets (OTCQX) under the symbol KTHN. Learn more about the Company and its subsidiary bank at www.katahdintrust.com and follow Katahdin Trust on Facebook, X, LinkedIn, and Instagram.

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SOURCE Katahdin Trust Company

FAQ

What did Katahdin Bankshares (KTHN) authorize on January 5, 2026?

The company authorized a $2,000,000 stock buyback program effective through December 31, 2026.

Can Katahdin Trust Company's ESOP buy shares under the KTHN buyback program?

Yes. The ESOP may purchase shares under the program alongside company repurchases.

How will KTHN repurchases be executed under the buyback program?

Repurchases may occur in the open market, via block trades, or through privately negotiated transactions.

Is there a guaranteed number of KTHN shares that will be repurchased?

No. The company stated there is no assurance as to how many shares will be repurchased or at what prices.

Until when can Katahdin Bankshares buy back shares under the program?

The authorization runs through December 31, 2026, but the Board can change the term or amount at any time.