Dr. Ormanda Johnson Joins Cadillac Family Practice in Bar Harbor

Mount Desert Island Hospital is pleased to announce that Ormanda Johnson, MD, MPH has joined Cadillac Family Practice at MDI Hospital. Dr. Johnson specializes in family medicine, dermatology and public health. Her medical interests and expertise also include occupational health and medical education.

Previously in practice in the United Kingdom, Dr. Johnson is originally from the Bahamas. Mount Desert Island appealed to her because it shared the small island feel that she grew up with and beautiful scenery. “I am excited to be a part of this great community,” she says.

Dr. Johnson’s care philosophy centers on personalized, patient-centered care. “I aim to provide quality healthcare and treat others the way I would like to be treated—with respect, dignity, compassion—and a smile. I love being able to partner and build relationships across generations, and helping to look after not only my patients’ physical health, but their social well-being and mental health as well,” she says. “Coming from a public health background, I wholeheartedly believe in preventative care.”

After earning her medical degree from the University of the West Indies in 2003, she went on to earn her Master’s in Public Health from Emory University in 2008. She was also named the 2008 Bahamas Commonwealth Scholar, where she was awarded a full scholarship to complete her Master’s Degree in Clinical Dermatology at King’s College London, The University of London in recognition of her accomplishments in improving rural healthcare. This international scholarship is given annually to one resident of the Bahamas. While at King’s College London, she completed a St John’s Institute of Dermatology Fellowship. She completed her residency at The Royal College of General Practitioners in the United Kingdom in 2013.

Outside of work, she enjoys traveling, music, swimming, spending time with her young son Daniel and family in general. Dr. Johnson is now accepting new patients for both primary care and dermatology.

To learn more or to schedule an appointment, contact Cadillac Family Practice at 288-5119.

Bar Harbor Bank to Acquire 8 Bank Branches in Central Maine

 Bar Harbor Bankshares (NYSE American: BHB or the “Company”) announced that its banking subsidiary, Bar Harbor Bank & Trust (“BHBT” or the “Bank”), has signed a definitive agreement to acquire eight branches located in central Maine with approximately $287 million of deposits, $111 million of loans and $284 million of assets under management (as of March 31, 2019) from People’s United Bank, National Association (“People’s”).       

Both banks will be working closely to ensure a seamless transition for customer accounts and associates transferring to BHBT.  The Company intends to offer continued employment to the professionals associated with People’s central Maine region, which is anticipated to close in the fourth quarter of 2019.  This acquisition is subject to regulatory approval from the Federal Deposit Insurance Corporation and the State of Maine and the satisfaction of customary closing conditions.  The eight branches will increase BHBT’s total branch count to 56 in its footprint, and 22 in the State of Maine.  The Company is well positioned to integrate the new branches into its existing operations and deliver the product depth and local responsiveness that it has become known for.  

President and Chief Executive Officer, Curtis C. Simard stated, “We are pleased to welcome our new colleagues, customers and communities to our already deep Maine roots.  We look forward to servicing their banking and Wealth Management needs, and to providing our full suite of personal and commercial deposit and loan products.  We believe this acquisition provides our existing and new customers enhanced convenience and underscores our commitment to Maine while expanding into contiguous markets in a sensible way. These branches stretch across the central Maine I-95 corridor with four branches in the greater Bangor market and includes all deposits from People’s central Maine territory.”

Mr. Simard stated “This transaction contributes to our financial and long term strategic goals with manageable risk based on our experienced team’s history of successful acquisitions and system integrations.  We plan to use the acquired deposits to replace certain existing higher cost of borrowings which will result in an immediate accretion to earnings and will support future growth with additional core funding.  Incremental earnings will allow for an estimated earn-back of tangible book value per share less than a period of five years.  At closing the Company will pay a 6.3% premium on average total deposits plus a premium of 1.2 times annualized wealth management revenue and approximately $4.4 million for the fair value of premises and equipment acquired.”

Griffin Financial Group, LLC served as financial advisor to Bar Harbor Bankshares and K&L Gates served as outside legal counsel.  A presentation with additional information regarding the branch acquisition is attached as an exhibit and can be found on our website.

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 130 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

Paragraphs two, three, and four of this release contains forward looking statements about the Company’s future plans, strategies and financial performance that may be considered forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward looking statements are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, and this statement is included for purposes of complying with these safe harbor provisions. These statements can be identified by the fact that they do not relate strictly to historical or current facts and often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate" or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could" or "may." These forward looking statements are based on current plans and expectations, which are subject to a number of risk factors and uncertainties, many of which are beyond our control, which could cause the Company’s actual results to differ from those expressed in the forward looking statements. Risk factors relating both to the transaction and the integration of the branch customers into Bar Harbor Bank and Trust after the completion of the transaction include, without limitation:

• Completion of the transaction is dependent on, among other things, the ability of the parties to satisfy the conditions precedent and consummate the announced Transaction and to secure of regulatory approvals and third-party consents, the timing of which cannot be predicted with precision at this point and which may not be satisfied or received at all.
• The transaction may be more expensive to complete and the anticipated benefits may be significantly harder or take longer to achieve than expected or may not be achieved in their entirety as a result of unexpected factors or events.
• The integration of the acquired customers and operations into the Company, which will include conversion of data and information from the seller’s operating systems to the Company’s operating systems, may take longer than anticipated or be more costly than anticipated or may have unanticipated adverse consequences.
• The Company’s ability to achieve anticipated results from the transaction is dependent on the state of the economic and financial markets going forward. Specifically, the Company may incur more credit losses from the acquired loan portfolio than expected, deposit costs or attrition may be greater than expected, and wealth management or treasury service income may be less than expected.

Additional risks and uncertainties that could cause the Company’s actual results to differ from those expressed in the forward looking statements are identified in its reports filed with the Securities and Exchange Commission, including its Quarterly Reports on form 10‑Q, Annual Reports on Form 10-K, and Current Reports on Form 8‑K.  The forward looking statements included in this release are made only as of the date of this release, and the Company does not undertake any obligation to update the forward looking statements to reflect subsequent events or circumstances.

Cathy Planchart, VP

Product & Segment Marketing Manager

Marketing Department

Bar Harbor Bank & Trust

135 High Street | P.O. Box 1089

Ellsworth, ME  04605

Phone: 207-667-7100 x14655

Toll-free:  1-888-853-7100 x14655

Fax: 207-412-6420

E-mail: cplanchart@barharbor.bank

Bar Harbor Bank And Trust Presents Golf Tourney Proceeds to Beneficiaries

Jack Frost of Bar Harbor Bank & Trust presents a check for $10,500 to Jenny Jones of Bar Harbor Food Pantry and Dean Henry of Westside Food Pantry representing the proceeds from the Bank’s 26^th Annual David R. Harding Memorial Golf Tournament played at Kebo Valley Golf Club on June 12.  This year’s tournament benefited the two Mount Desert Island food pantries with event proceeds divided equally between the two organizations, resulting in donations of $5,250 each.

Bar Harbor Food Pantry and Westside Food Pantry, have provided healthy food, household products, and supplement vouchers to our neighbors in need for decades.  Their operations are heavily supported by volunteerism and donations.  These organizations make an impact on individuals and families struggling to provide for themselves and their loved ones.

Bar Harbor Food Pantry is located at 36 Mount Desert Street in Bar Harbor and has been aiding the community since 1994.  Westside Food Pantry opened its doors in 1990 and operates out of the Harbor House Community Center on Main Street in Southwest Harbor.  Learn more about the great work these organizations do for our community by visiting their websites: www.barharborfoodpantry.org and www.westsidefoodpantry.org

Bar Harbor Bankshares (NYSE American: BHB) is the parent company of its wholly owned subsidiary, Bar Harbor Bank & Trust. Operating over 50 locations across Maine, New Hampshire and Vermont, Bar Harbor Bank & Trust is headquartered in Bar Harbor, Maine and has more than $3.6 billion in assets.  As a leading Northern New England community bank, Bar Harbor Bank & Trust offers a full range of personal and business banking services, as well as wealth management services through its subsidiaries Bar Harbor Trust Services and Charter Trust Company.  For more information about Bar Harbor Bank & Trust, visit www.barharbor.bank or call 1-888-853-7100.  Member FDIC.