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Bar Harbor Bankshares' board authorizes stock buyback plan

Bar Harbor Bankshares's board authorized a share repurchase plan, which allows the Maine-based company to buy back up to 5% of its outstanding common stock, representing about 776,000 shares as of March 15.

The plan is authorized to last no longer than 12 months. Share repurchases, if any, will be made from time to time in the open market, through block trades, or otherwise, in private negotiated transactions.