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)	March 15, 2018
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
82 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):

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

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

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

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

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Item 7.01 Regulation FD Disclosure

On March 15, 2018, Bar Harbor Bankshares (NYSE MKT: BHB) (“the Company”) mailed to its shareholders the quarterly dividend letter with respect to the previously announced dividend of $0.1867 per share of common stock, payable on March 15, 2018 to all shareholders of record as of the close of business February 15, 2018. A copy of the Company’s shareholder dividend letter is filed with this report as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits

(a) Not applicable.

(b) Not applicable.

(c) Not applicable.

(d) Exhibits

Exhibit Number	Description
99.1	Copy of the Company’s shareholder dividend letter dated March 15, 2018.

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.

	BAR HARBOR BANKSHARES
Date: March 15, 2018	By: /s/ Curtis C. Simard
	Curtis C. Simard
	President & Chief Executive Officer

EXHIBIT INDEX

Exhibit Number	Description
99.1	Copy of the Company’s shareholder dividend letter dated March 15, 2018

EX-99.1

March 15, 2018

Dear Fellow Shareholders,

As the Company evolves, so too will our quarterly communications with you. We will provide updates on financial performance as well as key strategic initiatives; to inform you on the ways we are working to continually expand shareholder value. We also encourage you to visit our website to review press releases and corporate governance updates regularly.

Financial Performance. As previously announced, on January 16, 2018, the Board of Directors of Bar Harbor Bankshares (“the Company”) declared a quarterly cash dividend of $0.1867 per share of common stock, payable March 15, 2018 to shareholders of record as of February 15, 2018. Our fourth quarter earnings release and selected unaudited financial data for the twelve months ended December 31, 2017 can be found through our Company website at www.bhbt.com/shareholder-relations. In the past quarter we increased Earnings Per Share to $0.58 which was driven by continued efficiencies, and increasing loan growth, especially in our commercial markets as we posted 21% annualized growth. The increased sophistication of our operations has also provided a 53% efficiency ratio, a non-GAAP number.

Strategic Initiatives. In the past quarter, BHB has made investments in systems to remain on track with the rapidly changing technological environment. These improvements allow the Company to remain vigilant in risk mitigation efforts, and to continue providing a high level of service to our valued customers. As we began 2018, the Senior Executive Team welcomed Marion Colombo, EVP, Director of Retail Delivery and John Land, EVP, Chief Human Resources Officer, as other members transition into retirement. The decades of experience that both Marion and John bring to the team will play a vital role in maintaining the forward momentum which has led to exciting growth in the past year. Growth is an essential strategy to providing consistent returns to our investor base, and as we foster new relationships, we also continue to emphasize our role in the individual communities we serve, and the benefit of local decision making for our customers.

Throughout 2017, the focus remained on development of our core business and preservation of our strong risk management culture, all while doubling our footprint into New Hampshire and Vermont. We are excited for the opportunities afforded by these strategic endeavors for our shareholders, customers, team members, and communities. Thank you for your continued loyalty and support.

Respectfully,

Curtis C. Simard

President & CEO

Enclosures

This letter contains certain forward-looking statements with respect to the financial condition, results of operations and business of Bar Harbor Bankshares (the “Company”) for which the Company claims the protection of the safe harbor provided by the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. The forward-looking statements reflect our current views about future events and are subject to risks, uncertainties, assumptions and changes in circumstances that may cause the Company’s actual results to differ significantly from those expressed in any forward-looking statement. You should not rely uncritically on forward-looking statements because they involve significant known and unknown risks, uncertainties and other factors that are, in some cases, beyond the Company’s control and which could materially affect actual results. Some of the factors that could cause actual results to differ materially from current expectations include, but are not limited to, cyber attacks or other failures in our technology and privacy protection measures, changes in general economic conditions, changes in interest rates, changes in competitive product and pricing pressures among financial institutions within the Company’s markets, changes in the financial condition of Bar Harbor Bank & Trust’s borrowers and other factors discussed in the reports that the Company files with the Securities and Exchange Commission (the “SEC”). The forward-looking statements contained herein represent our judgment as of the date of this letter, and we caution readers not to place undue reliance on such statements. For further information, please refer to the Company’s reports filed with the SEC.