UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 4.01Changes in Registrant’s Certifying Accountant.
| (a) | Dismissal of Independent Registered Public Accounting Firm |
On March 11, 2025, the Audit Committee (the “Audit Committee”) of the Board of Directors of Bar Harbor Bankshares (the “Company”) approved the dismissal of the Company’s current independent registered public accounting firm, RSM US LLP (“RSM”), and formally notified RSM that they would not be retained as the Company’s independent registered public accounting firm, for the fiscal year ending December 31, 2025.
RSM’s reports on the Company’s financial statements for the fiscal years ended December 31, 2024 and 2023 did not contain an adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope, or accounting principles. During the Company’s fiscal years ended December 31, 2024 and 2023 and through March 11, 2025, there were no disagreements with RSM on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of RSM, would have caused RSM to make reference to the subject matter of the disagreements in their report on the financial statements for such years. During the Company’s fiscal years ended December 31, 2024 and 2023 and through March 11, 2025, there were no “reportable events” as defined in Item 304(a)(1)(v) of Regulation S-K.
The Company has provided RSM with a copy of the above disclosures in response to Item 304(a) of Regulation S-K in conjunction with the filing of this Form 8-K. The Company requested that RSM deliver to the Company a letter addressed to the Securities and Exchange Commission stating whether it agrees with the statements made by the Company in response to Item 304(a) of Regulation S-K, and if not, stating the respects in which it does not agree. RSM’s letter is filed herewith as Exhibit 16.1.
| (b) | Appointment of New Independent Registered Public Accounting Firm |
On March 13, 2025, based on the recommendation of the Audit Committee of the Board of Directors, the Company engaged Crowe LLP to serve as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2025.
Other than as described in the next paragraph, during the Company’s two most recent fiscal year ends (the fiscal years ended December 31, 2024 and 2023) and through March 13, 2025, the Company did not consult with Crowe LLP regarding (i) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company’s financial statements, and neither a written report nor oral advice was provided to the Company that Crowe LLP concluded was an important factor considered by the Company in reaching a decision as to an accounting, auditing or financial reporting issue; or (ii) any matter that was either the subject of a “disagreement” (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) or a “reportable event” (as described in Item 304(a)(1)(v) of Regulation S-K).
During the fiscal years ended December 31, 2024 and 2023, Crowe LLP provided income tax services to the Company. In approving the selection of Crowe LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2025, the Audit Committee and the Board of Directors considered these services previously provided by Crowe LLP and concluded that such services would not adversely affect the independence of Crowe LLP for the fiscal year ending December 31, 2025.
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 | ||
Date: March 14, 2025 | By: | /s/ Curtis C. Simard |
Curtis C. Simard | ||
President and Chief Executive Officer | ||