The Financial Services and Banking team advised Guaranty Bancorp, Inc. (“Guaranty”) on signing a definitive merger agreement with Bar Harbor Bankshares (“Bar Harbor”) pursuant to which Bar Harbor will acquire Guaranty in an all-stock transaction valued at approximately $41.6 million, or $56.94 per share. Under the terms of the merger agreement, each outstanding share of Guaranty common stock will be exchanged for 1.85 shares of Bar Harbor common stock. Upon completion of the merger, the combined bank will operate under the Bar Harbor Bank & Trust name serving attractive 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), solidifying its position as a leading financial services provider in Northern New England. The merger is targeted to be completed in the second half of 2025.
Guaranty Bancorp is the holding company of Woodsville Guaranty Savings Bank. Since 1889, Woodsville Guaranty Savings Bank is committed to serving its customers and communities by offering sound financial products and services to help stimulate personal and regional growth. With 11 offices located throughout west-central New Hampshire.
The Goodwin team was led by Chair of the Financial Services group and Co-Chair of the Banking & Consumer Financial Services practice, Samantha Kirby, along with William McCurdy, Natascha George and Morgan Frisoli.
For more information on the deal, please read the press release.