Bar Harbor Bankshares operates through its subsidiaries, which engages in the provision of commercial, retail, and wealth management banking services. It includes lending activities, acceptance of demand, savings and time deposits, business services, investment management, and trust and third-party brokerage services. The company was founded on January 19, 1984 and is headquartered in Bar Harbor, ME.
Company profile
Ticker
BHB
Exchange
Website
CEO
Curtis C. Simard
Employees
Incorporated
Location
Fiscal year end
Sector
Industry (SIC)
SEC CIK
Corporate docs
Subsidiaries
Cottage Street Corp. • Charter Holding Corp. • Charter Trust Company ...
IRS number
10393663
BHB stock data
Investment data
Securities sold
Number of investors
Calendar
4 May 22
26 Jun 22
31 Dec 22
Financial summary
| Quarter (USD) | Mar 22 | Dec 21 | Sep 21 | Jun 21 | |
|---|---|---|---|---|---|
| Revenue | |||||
| Cost of revenue | |||||
| Operating income | |||||
| Operating margin | |||||
| Net income | |||||
| Net profit margin | |||||
| Cash on hand | |||||
| Change in cash | |||||
| Diluted EPS |
| Annual (USD) | Dec 21 | Dec 20 | Dec 19 | Dec 18 | |
|---|---|---|---|---|---|
| Revenue | |||||
| Cost of revenue | |||||
| Operating income | |||||
| Operating margin | |||||
| Net income | |||||
| Net profit margin | |||||
| Cash on hand | |||||
| Change in cash | |||||
| Diluted EPS |
| Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
|---|---|---|---|---|---|---|
| Cash on hand (at last report) | 111.05M | 111.05M | 111.05M | 111.05M | 111.05M | 111.05M |
| Cash burn (monthly) | 46.45M | 9.37M | (no burn) | (no burn) | (no burn) | (no burn) |
| Cash used (since last report) | 133.31M | 26.9M | n/a | n/a | n/a | n/a |
| Cash remaining | -22.26M | 84.15M | n/a | n/a | n/a | n/a |
| Runway (months of cash) | -0.5 | 9.0 | n/a | n/a | n/a | n/a |
Recent insider trades
| Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|---|
| 13 May 22 | Brendan OHalloran | Common Stock | Buy | Acquire P | No | No | 25.25 | 300 | 7.58K | 9,761.2 |
| 27 Apr 22 | Brendan OHalloran | Common Stock | Buy | Acquire P | No | No | 26.5 | 125 | 3.31K | 9,461.2 |
| 26 Apr 22 | Brendan OHalloran | Common Stock | Buy | Acquire P | No | No | 26.75 | 500 | 13.38K | 9,336.2 |
| 23 Apr 22 | Simard Curtis C | Common Stock | Payment of exercise | Dispose F | No | No | 27.4 | 1,912 | 52.39K | 61,464.23 |
| 23 Apr 22 | Simard Curtis C | Common Stock | Option exercise | Acquire M | No | No | 0 | 2,473 | 0 | 63,376.23 |
| 23 Apr 22 | Simard Curtis C | Common Stock | Option exercise | Acquire M | No | No | 0 | 2,188 | 0 | 60,903.23 |
| 23 Apr 22 | Simard Curtis C | Common Stock | Option exercise | Acquire M | No | No | 0 | 1,849 | 0 | 58,715.23 |
| 23 Apr 22 | Simard Curtis C | RSU Common Stock | Option exercise | Dispose M | No | No | 0 | 2,473 | 0 | 5,020 |
| 23 Apr 22 | Simard Curtis C | RSU Common Stock | Option exercise | Dispose M | No | No | 0 | 2,188 | 0 | 2,189 |
| 23 Apr 22 | Simard Curtis C | RSU Common Stock | Option exercise | Dispose M | No | No | 0 | 1,849 | 0 | 0 |
Institutional ownership, Q1 2022
52.1% owned by funds/institutions
| 13F holders | Current |
|---|---|
| Total holders | 109 |
| Opened positions | 12 |
| Closed positions | 10 |
| Increased positions | 27 |
| Reduced positions | 36 |
| 13F shares | Current |
|---|---|
| Total value | 223.78M |
| Total shares | 7.82M |
| Total puts | 0 |
| Total calls | 0 |
| Total put/call ratio | – |
| Largest owners | Shares | Value |
|---|---|---|
| BLK Blackrock | 1.12M | $32.07M |
| FMR | 1.08M | $30.85M |
| Vanguard | 712.71K | $20.4M |
| Dimensional Fund Advisors | 671.6K | $19.22M |
| Manufacturers Life Insurance Company, The | 452.04K | $12.94M |
| Bar Harbor Trust Services | 391.17K | $11.2M |
| Punch & Associates Investment Management | 368.02K | $10.53M |
| STT State Street | 293.66K | $8.41M |
| Geode Capital Management | 248.86K | $7.12M |
| NTRS Northern Trust | 140.02K | $4.01M |
Financial report summary
?Risks
- Deterioration in local economies or real estate market may adversely affect the Company’s financial performance, as its borrowers’ ability to repay loans and the value of the collateral securing the loans may decline.
- High concentrations of commercial loans may increase exposure to credit loss upon borrower default.
- The Bank is exposed to risk of environmental liabilities with respect to properties to which it takes title.
- Greater than anticipated credit losses in the loan portfolios may adversely affect earnings.
- Interest rate volatility could significantly reduce the Company’s profitability.
- Wholesale funding sources may prove insufficient to replace deposits, support operations and future growth.
- Loss of deposits or a change in deposit mix could increase the cost of funding.
- The Company’s access to funds from subsidiaries may be restricted.
- Prepayments of loans may negatively impact the Company’s business. Generally, customers may prepay the principal amount of their outstanding loans at any time.
- Secondary mortgage market conditions may adversely affect financial condition and earnings.
- The Company is subject to a variety of operational risks, including reputational risk, and the risk of fraud or theft by employees or outsiders, which may adversely affect the Company’s business and results of operations.
- Disruptions to the Company’s information systems and security breaches may adversely affect its business and reputation.
- The Company’s operations are reliant on outside vendors.
- The Company may be adversely affected by the soundness of other financial institutions.
- Severe weather, natural disasters, acts of war or terrorism, and other external events could significantly impact the Company’s business and the business of its customers.
- Changes in the general economy or the financial markets could adversely affect financial performance.
- Monetary policy and economic environment could impact financial performance.
- Strong competition within the Company’s markets may significantly impact profitability.
- Market changes may adversely affect demand for services and impact revenue, costs, and earnings.
- Expansion, growth, and acquisitions could negatively impact earnings if not successful.
- The Company may be adversely affected by continuous technological change.
- The Company is subject to extensive government regulation and supervision, which may interfere with the ability to conduct business and may negatively impact financial results.
- The Company is subject to possible claims and litigation pertaining to fiduciary responsibilities.
- The Company may be unable to attract and retain key personnel.
Content analysis
?| Positive | ||
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| Constraining | ||
| Legalese | ||
| Litigous | ||
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H.S. freshman Avg
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New words:
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Removed:
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Financial reports
Current reports
8-K
Bar Harbor Bankshares Announces Stock Repurchase Plan
23 Jun 22
8-K
Submission of Matters to a Vote of Security Holders
17 May 22
8-K
Regulation FD Disclosure
17 May 22
8-K
Bar Harbor Bankshares Reports First Quarter Results; Declares Dividend
21 Apr 22
8-K
Regulation FD Disclosure
28 Feb 22
8-K
Bar Harbor Bankshares Reports Fourth Quarter Results; Declares Dividend
20 Jan 22
8-K
Bar Harbor Bankshares Reports Third Quarter Results; Declares Dividend
21 Oct 21
8-K
Bar Harbor Bankshares Reports Second Quarter Results; Declares Dividend
21 Jul 21
8-K
Submission of Matters to a Vote of Security Holders
19 May 21
8-K
Regulation FD Disclosure
18 May 21
Registration and prospectus
424B3
Prospectus supplement
5 Mar 20
424B3
Prospectus supplement
4 Feb 20
D
$40M in debt / options, sold $40M, 26 investors
10 Dec 19
S-8
Registration of securities for employees
14 Jun 19
S-8
Registration of securities for employees
17 May 19
S-4/A
Registration of securities issued in business combination transactions (amended)
17 Aug 16
S-4
Registration of securities issued in business combination transactions
18 Jul 16
425
Business combination disclosure
8 May 16
Other
UPLOAD
Letter from SEC
7 Dec 21
CORRESP
Correspondence with SEC
5 Dec 21
UPLOAD
Letter from SEC
23 Nov 21
EFFECT
Notice of effectiveness
4 Feb 20
CORRESP
Correspondence with SEC
29 Jan 20
UPLOAD
Letter from SEC
29 Jan 20
EFFECT
Notice of effectiveness
5 Sep 16
CORRESP
Correspondence with SEC
31 Aug 16
CORRESP
Correspondence with SEC
17 Aug 16
UPLOAD
Letter from SEC
4 Aug 16
Ownership
3
BAR HARBOR BANKSHARES / Debra Becton Miller ownership change
1 Jun 22
4
BAR HARBOR BANKSHARES / Jason Paul Edgar ownership change
31 May 22
4
BAR HARBOR BANKSHARES / John M Mercier ownership change
31 May 22
4
BAR HARBOR BANKSHARES / Marion Colombo ownership change
31 May 22
4
BAR HARBOR BANKSHARES / Josephine Iannelli ownership change
31 May 22
4
BAR HARBOR BANKSHARES / Curtis C Simard ownership change
31 May 22
4
BAR HARBOR BANKSHARES / Brendan OHalloran ownership change
16 May 22
4
BAR HARBOR BANKSHARES / Brendan OHalloran ownership change
28 Apr 22
13F-NT
Notice of holdings reported by another manager
14 Apr 22
3
BAR HARBOR BANKSHARES / Jason Paul Edgar ownership change
23 Mar 22
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