Bar Harbor Bank & Trust is headquartered in Bar Harbor and is the 3rd largest bank in the state of Maine. It is also the 289th largest bank in the nation. It was established in 1887 and as of December of 2019, it had grown to 457 employees at 59 locations. Bar Harbor Bank & Trust has an A+ health rating.
My entire family has been banking with Bar Harbor Bank & Trust for the last 8 years. Their customer service is absolutely phenomenal! They employee local residents who know the area and our family. These local connections were extremely useful as we never hesitated to call if there was a problem. However, their mobile application was basically useless. it was basically impossible to do any mobile deposits and it wasn't good at saying what the issue was. There were no fees for the checking account that I used which I greatly appreciated since I used this bank during high school when I didn't have much money in it at any one time. Their products were pretty similar to other banks around but their customer service was so top notch that I chose to keep this bank even when I moved out of state for college.
I opened an 'E-Choice' checking with Bar Harbor Bank & Trust. They also do in person banking, but I was living out of state therefore chose the electronic option. Overall it was a pretty good experience. Customer Service was good if you called but there wasn't much guidance online for troubleshooting errors (which is unfortunate since this was an 'E-Choice'). Additionally, the web/mobile apps were pretty underwhelming. They worked, but mobile was difficult to use, especially the mobile deposit, which again made it difficult to want to use their e-checking. This made them not very competitive with other online banks. They did have fairly good interest rates however, I got interest deposits more regularly than any of my other accounts. On the plus side, there was a $6 maintenance fee associated with the account which was easy to avoid, all you needed to do was sign up for e-statements! Throughout all of my experience with banks this was the easiest fee to avoid. Overall a good account but not competitive with other online-only institutions.
|FDIC Certificate #||11971|
|Return on Assets - YTD||0.73%|
|Return on Equity - YTD||6.43%|
|Annual Interest Income||$135.4MM|
|Assets and Liabilities|
|Assets||Q4 2019vs Q4 2018||$3.67B$3.60B|
|Loans||Q4 2019vs Q4 2018||$2.63B$2.48B|
|Deposits||Q4 2019vs Q4 2018||$2.73B$2.49B|
|Equity Capital||Q4 2019vs Q4 2018||$426.9MM$398.2MM|
|Loan Loss Allowance||Q4 2019vs Q4 2018||$15.4MM$13.9MM|
|Unbacked Noncurrent Loans||Q4 2019vs Q4 2018||$11.1MM$17.4MM|
|Real Estate Owned||Q4 2019vs Q4 2018||$2.2MM$2.4MM|
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