Mainebiz

W W W. M A I N E B I Z . B I Z 15 A P R I L 2 1 , 2 0 2 5 F O C U S B A N K I N G / F I N A N C E / I N S U R A N C E Increased value Earlier this year, Bar Harbor Bankshares (NYSE: BHB) signed a definitive agreement to acquire Guaranty Bancorp Inc. (OTC: GUAA) in New Hampshire. e deal is going through regulatory and Guaranty shareholder approvals. Bar Harbor Bankshares is the parent company of Bar Harbor Bank & Trust, which already has 21 branches in New Hampshire. Guaranty Bancorp is the parent company of Woodsville Guaranty Savings Bank in New Hampshire. e deal would expand Bar Harbor Bank & Trust's presence in New Hampshire and would increase its value from $4 billion in assets to approx- imately $5 billion. (In addition, Bar Harbor Bank & Trust Wealth Management has over $3.3 billion in assets under management.) "Woodsville operates in markets similar to ours and adjacent to our northwestern New Hampshire and Vermont locations, making this a natural fit," says Curtis Simard, president and CEO of Bar Harbor Bank & Trust. Bar Harbor Bank & Trust is the only Maine- based bank with a presence in all three states of northern New England, with 53 total branches in Maine, New Hampshire and Vermont (62 after the acquisition). e merger is targeted to be completed in the second half of 2025. Founded in 1889, Woodsville operates nine full- service branches and one loan production office. It reported $456 million in net loans and $530 million in deposits as of Dec. 31, 2024. Find a credit union near you at mainecreditunions.org Banking built for people, not profit. Running a business takes more than hard work, it takes a financial partner who understands your goals. Maine Credit Unions are local, not-for-profit organizations that put people first. That means personalized service, lower fees, competitive rates, and a genuine commitment to your financial success. When it comes to banking services, credit unions make a difference and stand apart. C O N T I N U E D O N F O L L OW I N G PA G E » We feel that Maine, New Hampshire and Vermont are similar in how we look at life. — Curtis Simard Bar Harbor Bank & Trust Norway Savings ranks No. 7 on the list of larg- est Maine-based banks, with assets of $1.9 billion and 24 offices. Bar Harbor Bank & Trust was ranked No. 3 among the largest Maine-based banks, based on assets as of June 30, 2024. With $5.7 billion in assets as of June 30, 2024, Camden National is ranked No. 2 among the largest Maine-based banks, behind Bangor Savings (with $7.2 billion in assets). Machias Savings Bank, founded in 1869, has $2.6 billion in an assets and more than 330 full-time employees. Based on assets as of June 30, 2024, it is ranked No. 6 among Maine- based banks. S O U R C E : 2025 Mainebiz Book of Lists. TOTAL ASSETS P H O T O / C O U R T E S Y O F B A R H A R BO R B A N K & T R U S T Curtis Simard BSB CNB BHBT MSB NSB $7.2B $5.7B $4.0B $2.6B $1.9B

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