January 19, 2009
Bank stock sale complete
By The Mainebiz News Staff
Bar Harbor Bankshares on Friday said it has completed the issuance and sale of nearly 19 million shares of preferred stock to the U.S. Treasury, as required for its participation in the Treasury's Capital Purchase Program.
The bank will receive approximately $18.75 million in federal stimulus funds under the program, part of Congress's Emergency Economic Stabilization Act of 2008. Read more about Maine's use of the capital program in "Banks cash in on fed funds," the current issue of Mainebiz.
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