Katahdin Bankshares Corp. Announces Stock Buyback Program

HOULTON, Maine, June 26, 2019 /PRNewswire/ -- Katahdin Bankshares Corp. (OTCQX:KTHN), parent company of Katahdin Trust Company, 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, 2020. 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., parent company of Katahdin Trust Company, stock is quoted on the OTC Markets quote board OTCQX under the symbol KTHN. Current stock information can be found at otcmarkets.com/stock/KTHN. Katahdin Trust, founded in 1918 and named one of the 2018 Best Places to Work in Maine, is a community bank with more than $800 million in assets and 180 employees. The Bank offers financial services to individuals and businesses from 16 full-service branches in northern Maine and the greater Bangor and Portland regions with a suite of digital banking solutions. Learn more about Katahdin Trust at www.katahdintrust.com and get the latest news and information by following Katahdin Trust on Facebook, Twitter, LinkedIn, and Instagram.                                                                                     

SOURCE Katahdin Bankshares Corp.