July 29, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Bar Harbor Bankshares (AMEX: BHB), the parent company of Bar Harbor Bank & Trust, said that it has repurchased in its entirety a warrant it previously issued to the U.S. Department of the U.S. Treasury on January 16, 2009, in connection with the company’s participation in the Capital Purchase Program.

The company repurchased the warrant for $250,000. The warrant was previously exercisable for 52,455 shares of the company’s common stock at an exercise price of $26.81 per share.

Bar Harbor said it does not expect that the repurchase of the warrant will have any effect on the company’s earnings or earnings per share for the third quarter of 2010.

On February 24, 2010, Bar Harbor that it redeemed all 18,751 shares of its Fixed Rate Cumulative Perpetual Preferred Stock, Series A, that was sold to Treasury under the CPP. As a result of the warrant repurchase, the company said it has repurchased all securities issued to Treasury under the CPP.

Maine-based Bar Harbor Bank & Trust, founded in 1887, provides full service community banking with twelve branch office locations serving Downeast and Midcoast Maine.

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