I now have five community banks in my portfolio. Between tweaking my analysis calculations and several quarterly reports, I feel a discussion of the performance and updated estimates is in order.
In late June, Katahdin Bancshares (KTHN) announced a $2 million share buyback program to run through December 2020. I have mixed emotions on whether this is better than a special dividend or retention in shareholder equity but it does say that the board believes the share price is undervalued.
Also in June, KTHN completed the private placement of $14.5 million in fixed