Katahdin Bankshares Corp. Announces Director Change

HOULTON, Maine, Oct. 28, 2015 /PRNewswire/ -- Katahdin Bankshares Corp. (OTCQX: KTHN), parent company of Katahdin Trust Company, today announced the retirement of board director Robert H. Anderson of Bangor and the election of Kimberley A. Niles of Scarborough to fill Anderson's unexpired term.

In making the announcement Steven Richardson, Chairman of the Board said, "Robert 'Bob' joined the board in 1997 and has provided great guidance and insight during his nearly 20 year tenure on the board. Throughout Bob's time on the board we have grown a great deal, from 7 branches in northern Maine to 19 throughout Maine and $130 million in assets to nearly $700 million today. Bob was an important component of that growth. He has been an avid supporter of the Bank with tremendous commitment and loyalty and we will certainly miss his input, dedication and camaraderie. On behalf of the entire board and staff we extend a heartfelt thank you to Bob."

"It is with great pleasure that we welcome Kimberley A. Niles to fill Bob's unexpired term," stated Richardson. "Kimberley is an energetic business person who encompasses business experience and community involvement ---- qualities that are vital to our shareholders, customers, and communities which we serve. Her expertise and knowledge of financial matters and investment capital is a tremendous addition to the depth of experience within our board. As we continue to expand our operations in the southern Maine market, Kimberley's knowledge of and involvement in this market will be an asset." 

Kimberley is the Managing Director and Chief Financial Officer for Constant Energy Capital Management, an investment capital management company, in Portland, ME and is founder and consultant for VC CFO Services, LLC, a financial consulting firm in Scarborough, providing interim CFO services for companies as well as financial support services for startup opportunities and venture firms. 

"I am honored to serve on the board of a bank that is so dedicated to the communities it serves, its customers, and its employees and does so with a compelling vision for the future," said Niles. "We certainly share the same philosophy of giving back to the communities we serve and it is easy to see that Katahdin Trust is a leader in that respect."  

Kimberley attended the Whittemore School of Business & Economics at the University of New Hampshire, attaining her bachelor's degree in Business Administration and is a licensed CPA in the State of Maine. She has over 25 years of experience as a finance professional including 17 years as CFO for North Atlantic Capital, an investment capital management company in Portland, ME.  Prior to that she held various roles with both private companies and in public accounting. 

Active in civic and professional organizations, Kimberley currently serves as treasurer and member of the board of directors for Maine Venture Fund and Side x Side, Inc. in Portland; a student mentor for the University of New Hampshire Rines Student Angel Fund; Holloway Competition Judge and Biz Gen High School Competition Judge for the University of New Hampshire; and a soup kitchen volunteer at the Preble Street Resource Center in Portland. Previously she served on the board of directors for The Salvation Army in Portland, treasurer of the Wentworth Intermediate School PTO in Scarborough; board member of CAREBaskets in Scarborough, ME; and WSBE Alumni board member of the University of New Hampshire. 

Kimberley resides in Scarborough with her fiance and her two sons. 

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/KTHNquote.  Katahdin Trust Company, established in 1918, provides banking services to individuals and businesses from 19 offices throughout Maine and online at www.katahdintrust.com.

SOURCE Katahdin Bankshares Corp.

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http://www.katahdintrust.com