Brief: Bar Harbor Bank To Acquire 8 Bank Branches In Central Maine

Bar Harbor Bankshares

08/07/2019 22:27

July 8 (Reuters) - Bar Harbor Bankshares  BHB.A :
    * BAR HARBOR BANK TO ACQUIRE 8 BANK BRANCHES IN CENTRAL
MAINE
    * BAR HARBOR - PLAN TO USE ACQUIRED DEPOSITS TO REPLACE
CERTAIN
EXISTING HIGHER COST OF BORROWINGS RESULTING IN IMMEDIATE
ACCRETION TO EARNINGS
    * BAR HARBOR BANKSHARES - WILL PAY 6.3% PREMIUM ON AVERAGE
TOTAL
DEPOSITS PLUS A PREMIUM OF 1.2 TIMES ANNUALIZED WEALTH
MANAGEMENT REVENUE
    * BAR HARBOR BANKSHARES - WILL ALSO PAY APPROXIMATELY $4.4
MILLION
FOR FAIR VALUE OF PREMISES AND EQUIPMENT ACQUIRED

Source text for Eikon:  ID:nBw61hTVha 
Further company coverage:  BHB.A 

 ((Reuters.Briefs@thomsonreuters.com;))