Katahdin Bankshares Corp. Announces Director Resignation

HOULTON, Maine, April 14, 2016

In making the announcement Steven Richardson, Chairman of the Board said, "Hal will become a Maine Superior Court Justice effective April 14, which prohibits him from serving on the Board. We certainly wish Hal the very best in his new position and are confident he will do a great job.  Hal joined the Board in 2004 and was appointed Vice Chair in 2013.  During his tenure he has been an integral part of our Board and the Bank and we will greatly miss the valuable guidance and insight he has provided over the years, as well as his passion and commitment for community banking."  Richardson went on further to say that during Hal's time on the Board the Bank doubled its asset size from slightly over $343 million to over $700 million today and expanded its footprint to include the greater Bangor and Portland market areas.  "On behalf of the entire Board and staff we extend a heartfelt thank you to Hal," said Richardson.       

In commenting on his time on the Board Stewart said, "It has been a tremendous experience, I quickly learned the banking industry was an evolving complicated world.  Yet despite constant change, the culture of Katahdin Trust Company remained consistent and true, to serve the needs of their customers.  There is no question that Katahdin Trust Company is truly 'community banking at its best'.  I have greatly enjoyed the interaction and collaboration with the Board and senior management as we explored future opportunities, expanded into new markets and developed new products and services to meet the needs of our customers.  I will certainly miss that." 

Katahdin Bankshares Corp. stock is quoted on the OTC Markets quote board OTCQX under the symbol KTHN. Current stock information can be found at www.otcmarkets.com/stock/KTHN/quote.  Katahdin Trust Company, established in 1918, provides banking services to individuals and businesses from 19 offices throughout Maine and online at www.katahdintrust.com.

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SOURCE Katahdin Bankshares Corp.