Bar Harbor Bankshares

Company overview

Bar Harbor Bankshares is the parent company of Bar Harbor Bank & Trust and its subsidiaries Bar Harbor Wealth Management (BHWM) and Cottage Street Corporation. The company is a regional community bank focused on Northern New England, emphasizing local decision-making, customer relationships, and risk management. It is celebrating its 139th anniversary and is owned and operated by a large local team that prioritizes employee and customer experience, technology, and community presence.

Geography and branch footprint

• Maine: 22 full-service branches; 2 wealth management offices; commercial loan production office in Portland.
• New Hampshire: 30 full-service branches; 5 wealth management offices (including Lake Sunapee, Upper Valley, Northern NH, Merrimack Valley).
• Vermont: 10 full-service branches; 1 stand-alone drive-up facility in Woodstock.
• Total physical footprint: 41 owned retail branches and 21 leased branches; 5 owned administrative buildings and 3 leased.
• Corporate offices and operations centers: Bar Harbor, Ellsworth (ME), Newport (NH), Bangor (ME), Hampden (ME), Portland (ME), and Concord (NH). The wealth management building in Concord is owned.
• Net book value of property, plant and equipment (land, buildings, leasehold improvements, furniture, fixtures, and equipment) was $58.2 million at year-end 2025.

Major business lines and services

• Bar Harbor Bank & Trust: retail and commercial banking, including commercial real estate, commercial & industrial, residential real estate, home equity, consumer loans, and deposit services.
• Bar Harbor Wealth Management (BHWM): fiduciary services, trust and estate administration, wealth advisory and investment management. AUM was approximately $3.0 billion as of 12/31/2025 (up from $2.8 billion in 2024).
• Bar Harbor Financial Services: brokerage services (through Osaic Institutions, Inc.), life insurance, annuities, retirement products, and financial planning. Brokerage services are provided as a branch unit of a third-party broker-dealer.
• Fee income sources include trust services, treasury management, derivatives, and secondary market mortgage sales. Wealth management produces material revenue.
• The company focuses on small-business and entrepreneurial customers within its local markets.

Customer base

• Maine: over 48,000 customers.
• New Hampshire: over 73,000 customers.
• Vermont: over 23,000 customers.
  The Bank targets businesses, entrepreneurs, and individuals within its market footprint.

Workforce

• 530 full-time equivalent employees as of December 31, 2025.
• Previously described as “over 450 dedicated professionals” across more than 60 locations; the current figure reflects growth and staffing at year-end 2025.

Financial highlights (selected)

• Total loans outstanding: $3,605.9 million (2025) vs. $3,147.1 million (2024).
• Average deposits: $3,540.4 million (2025) vs. $3,174.8 million (2024).
  • Deposit composition (average balances for 2025):
    • Non-interest bearing demand: $614.4 million (17%)
    • Interest-bearing demand: $1,003.1 million (28%)
    • Savings: $588.1 million (17%)
    • Money market: $425.2 million (12%)
    • Time deposits: $909.6 million (26%)
  • Weighted average yield on deposits: 1.79%
• Assets under management (BHWM): $3.0 billion as of 12/31/2025 (compared with $2.8 billion in 2024).
• FDIC deposit insurance expense for 2025: $1.9 million.

Investment and risk management

• Investment portfolio consists of available-for-sale debt securities, including U.S. government-related securities, agencies, private-label, and corporate bonds.
• The Bank uses hedging and derivative instruments (interest rate swaps and caps) for risk management and to facilitate customer hedging.
• Strategy emphasizes growth through loans, deposits, and fee-based services, while maintaining liquidity and capital adequacy within a regulated environment.

Regulatory and corporate structure

• Bar Harbor Bankshares is a bank holding company regulated by the Federal Reserve and Maine authorities. The Bank is FDIC-insured and state-regulated.
• The Bank has access to FHLB funding and other wholesale funding sources in addition to customer deposits.
• The company operates under multiple regulatory frameworks, including capital and liquidity requirements, community reinvestment considerations, privacy and data security, and consumer protection.