Bar Harbor Bankshares Selected for Performance Award
03 September 2008 - 10:54PM
Business Wire
Bar Harbor Bankshares (AMEX: BHB), the parent company of Bar Harbor
Bank & Trust, announced today that Sandler O'Neill &
Partners, L.P., a prominent national research and financial
advisory firm, has selected BHB for inclusion in its Sandler
O'Neill Sm-All Stars--Class of 2008, which includes only 33
financial institutions nationally. The objective of the Sm-All
Stars is to identify the top performing small-cap banks and thrifts
in the nation. The Sandler O'Neill report states in part that: "All
574 publicly traded banks and thrifts with a market cap of less
than $2 billion were included in our evaluation to identify the
small-cap depository institutions that stand out from the
pack...Our analysis focuses on growth, profitability, credit
quality, and capital strength." In acknowledging BHB's selection,
President & CEO Joseph M. Murphy commented "The selection
process reviewed our financial performance for the twelve-month
period ending June 30, 2008 and compared it to the other banks
under consideration using such criteria as: loan, deposit and
earnings per share growth, return on average equity and several
asset quality measures. In addition, banks under consideration must
qualify as "well capitalized". We are delighted to have performed
well according to this comparative evaluation. We are especially
honored to have qualified for this recognition during such
difficult times for the banking industry. We believe it is an
objective validation of our efforts to pay close attention to the
fundamentals of community banking while delivering excellent
service to our customers and good value to our shareholders." Bar
Harbor Bankshares is the parent company of its wholly owned
subsidiary, Bar Harbor Bank & Trust. Bar Harbor Bank &
Trust, founded in 1887, provides full service community banking
with twelve branch office locations serving down east and mid coast
Maine.
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