Insights: News Kilpatrick Counsels Bar Harbor Bankshares in Acquisition of Guaranty Bancorp, Inc.
Bar Harbor Bankshares (NYSE MKT: BHB) (or “Bar Harbor”) and Guaranty Bancorp, Inc. (OTC: GUAA) (or “Guaranty”) today announced that they have signed a definitive merger agreement pursuant to which Bar Harbor will acquire Guaranty in an all-stock transaction valued at approximately $41.6 million, or approximately $56.94 per share. Kilpatrick is serving as counsel to Bar Harbor in the transaction.
Upon completion of the merger, the combined company will operate under the Bar Harbor Bank & Trust name serving markets throughout a contiguous footprint in Maine, New Hampshire, and Vermont. The combined entity is expected to have approximately $4.8 billion in assets, $3.9 billion in deposits, and $3.2 billion in Assets Under Administration (AUA).
Kilpatrick’s Financial Institutions Team is annually recognized among the top firms in the nation for its experience in representing financial institutions in the area of mergers and acquisitions. Among the honors it has received, the Financial Institutions Team has been recognized by Chambers USA numerous times in the area of Nationwide Financial Institutions M&A. For more information on our practice please visit our website at Financial Institutions (ktslaw.com).
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