By Katherine Hamilton
Bar Harbor Bankshares will buy Guaranty Bancorp in an all-stock deal valued at $41.6 million.
The two banks, based in Bar Harbor, Maine, and Woodsville, N.H., respectively, said Tuesday the deal is equivalent to $56.94 a share.
The merger is expected to be completed in the second half of this year.
Under the terms of the agreement, each outstanding share of Guaranty will be exchanged for 1.85 shares of Bar Harbor, whose shareholders will own about 92% of the combined company's stock. Guaranty shareholders will own roughly 8%.
Guaranty will start operating under the name Bar Harbor Bank & Trust following the merger. Together, the banks are expected to have about 60 branches in Maine, New Hampshire and Vermont, and a total of $4.8 billion in assets.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
March 11, 2025 18:01 ET (22:01 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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