8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported) January 18, 2011

Bar Harbor Bankshares
(Exact Name of Registrant as Specified in Its Charter)

Maine
(State or Other Jurisdiction of Incorporation)

001-13349                              01-0393663
(Commission File Number)    (IRS Employer Identification No.)

P.O. Box 400
Main Street, Bar Harbor, ME            04609-0400
(Address of Principal Executive Offices) (Zip Code)

(207) 288-3314
(Registrant’s Telephone Number, Including Area Code)

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

___  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

___  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

___  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

___  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 8.01 OTHER EVENTS

Bar Harbor Bankshares issued a press release today announcing, that its Board of Directors declared a quarterly cash dividend of 27.0 cents per share of common stock, representing an increase of 0.5 cents, or 1.9% compared with the prior quarter, and an increase of 1.0 cents or 3.8% compared with the 1^st quarter of 2010. The dividend will be payable to all shareholders of record as of the close of business February 16, 2011 and will be paid on March 15, 2011. A copy of the Company’s press release is filed with this current report as an exhibit.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

         (d)    Exhibits No. Description

99.1    Copy of Company’s press release dated January 18, 2011 filed herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: January 18, 2011

BAR HARBOR BANKSHARES

/s/Joseph M. Murphy

Joseph M. Murphy
President and Chief Executive Officer

EXHIBIT INDEX

99.1 Press Release dated January 18, 2011

EX-99

EXHIBIT 99.1

PRESS RELEASE

For further information contact:       FOR IMMEDIATE RELEASE
Joseph M. Murphy
President and CEO
(207) 288-3314

Bar Harbor Bankshares Increases Quarterly Cash Dividend

Bar Harbor, Maine (January 18, 2011) – Bar Harbor Bankshares (NYSE Amex: BHB), today announced that its Board of Directors declared a quarterly cash dividend of 27.0 cents per share of common stock, representing an increase of 0.5 cents, or 1.9% compared with the prior quarter, and an increase of 1.0 cents or 3.8% compared with the first quarter of 2010. The quarterly cash dividend is payable to all shareholders of record as of the close of business February 16, 2011 and will be paid on March 15, 2011.

Bar Harbor Bankshares is the parent company of its wholly owned subsidiary, Bar Harbor Bank & Trust. Bar Harbor Bank & Trust, founded in 1887, provides full service community banking with twelve branch office locations serving down east and mid coast Maine.

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