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Bar Harbor Bankshares Inc Reports Operating Results (10-K)

March 16, 2011 | About:

Bar Harbor Bankshares Inc (BHB) filed Annual Report for the period ended 2010-12-31.

Bar Harbor Bankshares has a market cap of $111.6 million; its shares were traded at around $29.18 with a P/E ratio of 11.1 and P/S ratio of 1.9. The dividend yield of Bar Harbor Bankshares stocks is 3.7%. Bar Harbor Bankshares had an annual average earning growth of 9.6% over the past 10 years. GuruFocus rated Bar Harbor Bankshares the business predictability rank of 3.5-star.

Highlight of Business Operations:

Indicate by check mark whether the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act: YES ___ NO x Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act: YES ___ NO x Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days: YES x NO ___ Indicate by checkmark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (Section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). YES ___ NO ___ Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (Section 229.405 of this chapter) is not contained herein, and will not be contained, to the registrants knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. ___ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act: Large accelerated filer ___ Accelerated filer x Non-accelerated filer (do not check if a smaller reporting company) ___ Smaller reporting company ___ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act): YES ___ NO x The aggregate market value of the common stock held by non-affiliates of Bar Harbor Bankshares was $92,241,527 based on the closing sale price of the common stock on the NYSE Amex on June 30, 2010, the last trading day of the registrants most recently completed second quarter. Number of shares of Common Stock par value $2.00 outstanding as of March 1, 2011: 3,830,038

Bar Harbor Bankshares (the "Company") ("BHB") was incorporated under the laws of the state of Maine on January 19, 1984. At December 31, 2010, the Company had total consolidated assets of $1.12 billion and total shareholders equity of $103.6 million.

The staff includes credentialed investment and trust professionals with extensive experience. At December 31, 2010, Trust Services served 740 client accounts, with assets under management and assets held in custody amounting to $314.2 million and $22.6 million, respectively.

Create a new agency, the Consumer Financial Protection Bureau, responsible for implementing, examining and enforcing compliance with federal consumer financial laws; Apply the same leverage and riskbased capital requirements that apply to insured depository institutions to most bank holding companies, which, among other things, will require the financial institutions to deduct, over three years beginning January 1, 2013, all trust preferred securities issued on or after May 19, 2010 from the Tier 1 capital (existing trust preferred securities issued prior to May 19, 2010 for all bank holding companies with less than $15.0 billion in total consolidated assets as of December 31, 2009 are exempt from this requirement); Require financial holding companies, such as the Company, to be well-capitalized and well-managed as of July 21, 2011. Bank holding companies and banks must also be both well-capitalized and well-managed in order to acquire banks located outside their home state; Broaden the base for FDIC insurance assessments from the amount of insured deposits to average total consolidated assets less average tangible equity, eliminate the ceiling on the size of the Deposit Insurance Fund ("DIF") and increase the floor of the size of the DIF. These changes are generally expected to result in an increase in the level of assessments; Permanently increase FDIC deposit insurance to $250,000 and provide unlimited FDIC deposit insurance beginning December 31, 2010 and ending December 31, 2012, for noninterest bearing demand transaction accounts at all insured depository institutions; Amend the Electronic Fund Transfer Act to, among other things, give the Federal Reserve the authority to establish rules regarding interchange fees charged for electronic debit transactions by payment card issuers having assets over $10 billion and to enforce a new statutory requirement that such fees be reasonable and proportional to the actual cost of a transaction to the issuer; Permit the Bank to engage in de novo interstate branching if the laws of the state where the new branch is to be established would permit the establishment of the branch if the Bank were chartered by such state; Implement corporate governance revisions, including those with regard to executive compensation and proxy access by shareholders, that apply to all public companies; and

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