0000743367false00007433672024-01-162024-01-16

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

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FORM 8-K

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CURRENT REPORT

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

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Date of Report (Date of earliest event reported): January 16, 2024

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BAR HARBOR BANKSHARES

(Exact Name of Registrant as Specified in its Charter)

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Maine

001-13349

01-0393663

(State or Other Jurisdiction)
of Incorporation)

(Commission File No.)

(I.R.S. Employer
Identification No.)

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PO Box 400

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04609-0400

82 Main Street

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(Zip Code)

Bar Harbor, Maine

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(Address of Principal Executive Offices)

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

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Not Applicable

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

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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):

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

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

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

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☐ 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

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Title of each class

Trading Symbol

Name of each exchange on which registered

Common Stock, par value $2.00 per share

BHB

NYSE American

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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).

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Emerging growth company  ☐

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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. ☐

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Item 7.01 Other Events

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On January 16, 2024, Bar Harbor Bankshares announced that its Board of Directors declared a quarterly cash dividend of $0.28 per share to shareholders of record at the close of business on February 15, 2024 and payable on March 15, 2024. A copy of the press release is furnished hereto as Exhibit 99.1 and incorporated into this Item 7.01 by reference.

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In accordance with General Instruction B.2 of Form 8-K, the information furnished under this Item 7.01 of this Current Report on Form 8-K and the exhibit attached hereto are deemed to be “furnished” and shall not be deemed “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act.

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Item 9.01 Financial Statements and Exhibits

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(d) Exhibits.

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Exhibit No.

    

Description

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99.1

104

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Press Release of Bar Harbor Bankshares dated January 16, 2024

Cover Page Interactive Data File (embedded within the inline XBRL document)

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SIGNATURES

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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.

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Bar Harbor Bankshares

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January 16, 2024

By:

/s/ Curtis C. Simard

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Curtis C. Simard

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President and CEO

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Exhibit 99.1

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Graphic

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Bar Harbor Bankshares Declares Quarterly Cash Dividend

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BAR HARBOR, MAINE – January 16, 2024 -- Bar Harbor Bankshares (NYSE American: BHB; the “Company”) announced that its Board of Directors declared at its January 16, 2024 meeting, a quarterly cash dividend of $0.28 per share of common stock to Company shareholders of record at the close of business on February 15, 2024, payable on March 15, 2024. This dividend equates to a 3.81% annualized yield based on the $29.36 closing price of the Company's common stock on December 29, 2023, the last day of trading in 2023.

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BACKGROUND

Bar Harbor Bankshares 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.

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FORWARD LOOKING STATEMENTS

Statements in this press release regarding the expected payment of the Company’s quarterly cash dividend is a forward looking statement.  There are a number of important factors that could cause our ability to pay or increase cash dividends in the future 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, our the continued financial strength, 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.

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CONTACT

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

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Jan. 16, 2024
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