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May 1, 2008

Bar Harbor Bankshares' Q1 profits up

Bar Harbor Bankshares, the parent company of Bar Harbor Bank & Trust, yesterday said net income for the first quarter of 2008 was roughly $2 million, a 42% increase from the same period last year.

Total assets rose to $911 million in the quarter ending March 31, up 10% from the first quarter of 2007, the bank said in a press release.

Profits rose in part because of $313,000 in proceeds from the sale of shares of Visa Inc., which went public in mid-March.

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