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): June 23, 2022

BAR HARBOR BANKSHARES

(Exact Name of Registrant as Specified in its Charter)

Maine	001-13349	01-0393663
(State or Other Jurisdiction) of Incorporation)	(Commission File No.)	(I.R.S. Employer Identification No.)
PO Box 400		04609-0400
82 Main Street		(Zip Code)
Bar Harbor, Maine
(Address of Principal Executive Offices)

Registrant’s telephone number, including area code: (207) 288-3314

Not Applicable

(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)) Securities registered pursuant to Section 12(b) of the Act

Title of each class	Trading Symbol	Name of each exchange on which registered
Common Stock, par value $2.00 per share	BHB	NYSE American

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 8.01 Other Events

On June 23, 2022, we issued a press release announcing that our Board of Directors authorized a repurchase plan of up to 5% of our outstanding common stock, representing approximately 751,000 shares, as of May 31, 2022. The repurchase plan does not obligate the repurchase of any particular amount of common stock, and may be suspended or discontinued at any time without notice. A copy of the press release dated June 23, 2022 is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.

Exhibit No.	Description
99.1 104	Press Release of Bar Harbor Bankshares dated June 23, 2022 Cover Page Interactive Data File (embedded within the inline XBRL document)

SIGNATURES

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

	Bar Harbor Bankshares
June 23, 2022	By:	/s/ Curtis C. Simard
		Curtis C. Simard
		President and CEO

EX-99.1

Exhibit 99.1

Bar Harbor Bankshares Announces Stock Repurchase Plan

BAR HARBOR, MAINE – June 23, 2022 -- Bar Harbor Bankshares (NYSE American: BHB; the “Company”) announced that its Board of Directors authorized the repurchase of up to 5% of its outstanding common stock, representing approximately 751,000 shares as of May 31, 2022 under a share repurchase plan (the “Plan”).  The Plan is authorized to last no longer than twelve months.

Share repurchases, if any, will be made from time to time in the open market, through block trades, or otherwise, in private negotiated transactions.  The timing and amount of any share repurchases will depend on a variety of factors, including, among others, securities law restrictions (including limitations provided in Rules 10b-18 and 10b5-1 under the Securities Exchange Act of 1934), the trading price of the Company's common stock, other regulatory requirements, potential alternative uses for capital, and the Company's financial performance. The Plan does not require the Company to acquire any particular amount of common stock, and it may be modified or suspended at any time at the Company's discretion.

A

BACKGROUND

Bar Harbor Bankshares (NYSE American: BHB) is the parent company of its wholly-owned subsidiary, Bar Harbor Bank & Trust. Founded in 1887, Bar Harbor Bank & Trust is a true community bank serving the financial needs of its clients for over 135 years. Bar Harbor provides full-service community banking with office locations in all three Northern New England states of Maine, New Hampshire and Vermont. For more information, visit www.barharbor.bank.

FORWARD LOOKING STATEMENTS

Statements in this press release regarding the Company’s intention to repurchase shares of its common stock from time to time under the stock repurchase plan are forward looking statements.  There are a number of important factors that could cause actual events to differ materially from those suggested or indicated by such forward-looking statements.  These include, among other, the market price of the Company’s stock prevailing from time to time, the nature of other investment opportunities available to the Company from time to time, the Company’s cash flows from operations, general economic conditions, and other factors identified in the Company’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission.

CONTACT

Josephine Iannelli; EVP, Chief Financial Officer & Treasurer; (207) 288-3314

B

XML

Document and Entity Information	Jun. 23, 2022
Document and Entity Information [Abstract]
Document Type	8-K
Document Period End Date	Jun. 23, 2022
Entity File Number	001-13349
Entity Registrant Name	BAR HARBOR BANKSHARES
Entity Incorporation, State or Country Code	ME
Entity Tax Identification Number	01-0393663
Entity Address, Address Line One	PO Box 400
Entity Address, Adress Line Two	82 Main Street
Entity Address, City or Town	Bar Harbor
Entity Address, Postal Zip Code	04609-0400
Entity Address, Country	ME
City Area Code	207
Local Phone Number	288-3314
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, par value $2.00 per share
Trading Symbol	BHB
Security Exchange Name	NYSEAMER
Entity Emerging Growth Company	false
Entity Central Index Key	0000743367
Amendment Flag	false