Bar Harbor Bankshares Repurchases Warrant
from U.S. Treasury
July 28, 2010 04:13 PM Eastern Daylight Time
BAR HARBOR, Maine--(EON: Enhanced Online News)--Bar Harbor Bankshares (the “Company”) (NYSE
Amex: BHB), parent company of Bar Harbor Bank & Trust, today announced that it has repurchased in its entirety
the warrant (the “Warrant”) previously issued to the U.S. Department of the Treasury (“Treasury”) on January 16,
2009, in connection with the Company’s participation in the Capital Purchase Program (“CPP”). The Company
repurchased the Warrant for $250,000. The Warrant was previously exercisable for 52,455 shares of the
Company’s common stock at an exercise price of $26.81 per share. The repurchase of the Warrant is not expected
to have any effect on the Company’s earnings or earnings per share for the third quarter of 2010.
On February 24, 2010, the Company announced that it redeemed all 18,751 shares of its Fixed Rate Cumulative
Perpetual Preferred Stock, Series A, that was sold to Treasury under the CPP. As a result of the Warrant
repurchase, the Company has repurchased all securities issued to Treasury under the CPP.
About Bar Harbor Bankshares
Bar Harbor Bankshares is the parent company of its wholly owned subsidiary, Bar Harbor Bank & Trust. Bar
Harbor Bank & Trust, founded in 1887, provides full service community banking with twelve branch office locations
serving downeast and midcoast Maine.
This press release contains certain forward-looking statements with respect to the financial condition, results
of operations and business of the Company for which the Company claims the protection of the safe harbor
provided by the Private Securities Litigation Reform Act of 1995, as amended. You can identify these
forward-looking statements by the use of words like “strategy,” “anticipates” “expects,” “believes,”
“will,” “intends,” “may” and other words of similar meaning. You can also identify them by the fact that
they do not relate strictly to histo