November 27, 2012

CEO of Bar Harbor Bankshares to step down

By Noel K. Gallagher
Staff Writer

BAR HARBOR — The president and CEO of Bar Harbor Bankshares, the parent company of Bar Harbor Bank & Trust, announced his retirement Tuesday.

Joseph Murphy, who has led Bar Harbor since 2002, said he would step down in June 2013. The company has operated 15 bank branches in midcoast and Down East Maine since 2002.

Murphy said he planned to stay on the bank’s board of directors, and board officials said in a press release that they expect to renominate him at the company’s annual meeting next year.

The bank’s board of directors has hired Kaplan Associates of Philadelphia to find a new president and CEO.

Bar Harbor Bank & Trust, which has 223 employees, was established in 1887. As of Oct. 30, Bar Harbor Bankshares had $1.3 billion in assets and $813.6 million in deposits.

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