-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VQ4wkk8aBimtzvKSkxCTixU2gIn/wOgtDwO2yLnBl2jMOaYls1vJMOX/RPjzB4CE Eok2SN6nsKe/y0MH75BY4g== 0000919574-11-000937.txt : 20110214 0000919574-11-000937.hdr.sgml : 20110214 20110211183647 ACCESSION NUMBER: 0000919574-11-000937 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20110214 DATE AS OF CHANGE: 20110211 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BAR HARBOR BANKSHARES CENTRAL INDEX KEY: 0000743367 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 010393663 STATE OF INCORPORATION: ME FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-35281 FILM NUMBER: 11601156 BUSINESS ADDRESS: STREET 1: 82 MAIN ST STREET 2: PO BOX 400 CITY: BAR HARBOR STATE: ME ZIP: 04609-0400 BUSINESS PHONE: 2072883314 MAIL ADDRESS: STREET 1: 82 MAIN ST STREET 2: PO BOX 400 CITY: BAR HARBOR STATE: ME ZIP: 04609-0400 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SANDLER ONEILL ASSET MANAGEMENT LLC CENTRAL INDEX KEY: 0001040762 IRS NUMBER: 133906061 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 712 FIFTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 2129741700 MAIL ADDRESS: STREET 1: 712 FIFTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10019 SC 13G/A 1 d1170937_13g-a.htm d1170937_13g-a.htm

 
 
 
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 

 
 
 
 
 

 
SCHEDULE 13G
 
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
 
 

 
Bar Harbor Bankshares
(Name of issuer)

 
Common Stock
(Title of class of securities)
 
 
 066849100
 (CUSIP number)
 

 
December 31, 2010
(Date of event which requires filing of this statement)
 
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
 
¨ Rule 13d-1(b)
 
þ Rule 13d-1(c)
 
¨ Rule 13d-1(d)
 
*
  
The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
 
The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 
 
 



SCHEDULE 13G
 
     
CUSIP No. 066849100
  
Page 2 of 14 Pages
 
         
  1.
  
Name of Reporting Person
 
    Sandler O'Neill Asset Management, LLC        
    
     
  2.
  
Check the Appropriate Box if a Member of a Group*
 
  
(a)  ¨
(b)  ¨
 
 
  3.
  
SEC Use Only
 
    
  4.
  
Citizen or Place of Organization
 
    New York
    

     
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
  
  5.    Sole Voting Power
 
 
  6.    Shared Voting Power
 
           239,977
 
  7.    Sole Dispositive Power
 
 
  8.    Shared Dispositive Power
 
            239,977    

         
 9.
  
Aggregate Amount Beneficially Owned by Each Reporting Person
 
    239,977
    
10.
  
Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares*
 
  
¨
 
11.
  
Percent of Class Represented by Amount in Row (9)
 
    6.28%
    
12.
  
Type of Reporting Person*
 
    00
    
 
*SEE INSTRUCTIONS BEFORE FILLING OUT!



 
 
 



SCHEDULE 13G
 
     
CUSIP No. 066849100
  
Page 3 of 14 Pages
 
         
  1.
  
Name of Reporting Person
 
    SOAM Holdings, LLC        
    
     
  2.
  
Check the Appropriate Box if a Member of a Group*
 
  
(a)  ¨
(b)  ¨
 
 
  3.
  
SEC Use Only
 
    
  4.
  
Citizen or Place of Organization
 
    Delaware
    

     
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
  
  5.    Sole Voting Power
 
 
  6.    Shared Voting Power
 
            163,577    
 
  7.    Sole Dispositive Power
 
 
  8.    Shared Dispositive Power
 
            163,577    

         
 9.
  
Aggregate Amount Beneficially Owned by Each Reporting Person
 
    163,577
    
10.
  
Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares*
 
  
¨
 
11.
  
Percent of Class Represented by Amount in Row (9)
 
    4.28%
    
12.
  
Type of Reporting Person*
 
    00
    
 
*SEE INSTRUCTIONS BEFORE FILLING OUT!


 
 
 



SCHEDULE 13G
 
     
CUSIP No. 066849100
  
Page 4 of 14 Pages


 
         
  1.
  
Name of Reporting Person
 
    Malta Partners, L.P.
    
  2.
  
Check the Appropriate Box if a Member of a Group*
  
 
(a)  ¨
(b)  ¨
  3.
  
SEC Use Only
 
    
  4.
  
Citizen or Place of Organization
 
Delaware        
    

     
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
  
  5.    Sole Voting Power
 
 
  6.    Shared Voting Power
 
5,600        
 
  7.    Sole Dispositive Power
 
 
  8.    Shared Dispositive Power
 
5,600        

         
 9.
  
Aggregate Amount Beneficially Owned by Each Reporting Person
 
    5,600        
    
10.
  
Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares*
 
  
¨
 
11.
  
Percent of Class Represented by Amount in Row (9)
 
    0.15%        
    
12.
  
Type of Reporting Person*
 
    PN        
    
 
*SEE INSTRUCTIONS BEFORE FILLING OUT!


 
 
 



SCHEDULE 13G

     
CUSIP No. 066849100
  
Page 5 of 14 Pages

 
         
  1.
  
Name of Reporting Person
 
Malta Hedge Fund, L.P.        
    
  2.
  
Check the Appropriate Box if a Member of a Group*
  
(a)  ¨
(b)  ¨
 
  3.
  
SEC Use Only
 
    
  4.
  
Citizen or Place of Organization
 
Delaware        
    

     
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
  
  5.    Sole Voting Power
 
 
  6.    Shared Voting Power
 
23,700
 
  7.    Sole Dispositive Power
 
 
  8.    Shared Dispositive Power
 
23,700    

         
 9.
  
Aggregate Amount Beneficially Owned by Each Reporting Person
 
23,700        
    
10.
  
Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares*
 
  
¨
 
11.
  
Percent of Class Represented by Amount in Row (9)
 
0.62%        
    
12.
  
Type of Reporting Person*
 
PN        
    
 
*SEE INSTRUCTIONS BEFORE FILLING OUT!


 
 
 



SCHEDULE 13G

     
CUSIP No. 066849100
  
Page 6 of 14 Pages

 
 
         
  1.
  
Name of Reporting Person
 
Malta Hedge Fund II, L.P.        
    
  2.
  
Check the Appropriate Box if a Member of a Group*
  
(a)  ¨
(b)  ¨
 
  3.
  
SEC Use Only
 
    
  4.
  
Citizen or Place of Organization
 
Delaware        
    

     
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
  
  5.    Sole Voting Power
 
 
  6.    Shared Voting Power
 
 134,277    
 
  7.    Sole Dispositive Power
 
 
  8.    Shared Dispositive Power
 
 134,277    

         
 9.
  
Aggregate Amount Beneficially Owned by Each Reporting Person
 
134,277        
    
10.
  
Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares*
 
  
¨
 
11.
  
Percent of Class Represented by Amount in Row (9)
 
3.51%        
    
12.
  
Type of Reporting Person*
 
PN        
    
 
*SEE INSTRUCTIONS BEFORE FILLING OUT!



 
 
 



SCHEDULE 13G
 
CUSIP No. 066849100
  
Page 7 of 14 Pages
 
         
  1.
  
Name of Reporting Person
 
    Malta Offshore, Ltd            
    
  2.
  
Check the Appropriate Box if a Member of a Group*
  
(a)  ¨
(b)  ¨
 
  3.
  
SEC Use Only
 
    
  4.
  
Citizen or Place of Organization
 
    Cayman Islands        
    

     
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
  
  5.    Sole Voting Power
 
 
  6.    Shared Voting Power
 
            51,400
 
  7.    Sole Dispositive Power
 
 
  8.    Shared Dispositive Power
 
            51,400

         
 9.
  
Aggregate Amount Beneficially Owned by Each Reporting Person
 
            51,400
    
10.
  
Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares*
 
  
¨
 
11.
  
Percent of Class Represented by Amount in Row (9)
 
1.34%
    
12.
  
Type of Reporting Person*
 
CO
    
 
*SEE INSTRUCTIONS BEFORE FILLING OUT!



 
 
 



SCHEDULE 13G
 
CUSIP No. 066849100
  
Page 8 of 14 Pages
 
         
  1.
  
Name of Reporting Person
 
    SOAM Capital Partners, L.P.            
    
  2.
  
Check the Appropriate Box if a Member of a Group*
  
(a)  ¨
(b)  ¨
 
  3.
  
SEC Use Only
 
    
  4.
  
Citizen or Place of Organization
 
    Delaware        
    

     
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
  
  5.    Sole Voting Power
 
 
  6.    Shared Voting Power
 
            25,000
 
  7.    Sole Dispositive Power
 
 
 8.    Shared Dispositive Power
 
            25,000

         
 9.
  
Aggregate Amount Beneficially Owned by Each Reporting Person
 
            25,000
    
10.
  
Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares*
 
  
¨
 
11.
  
Percent of Class Represented by Amount in Row (9)
 
0.65%
    
12.
  
Type of Reporting Person*
 
PN
    
 
*SEE INSTRUCTIONS BEFORE FILLING OUT!


 
 
 




SCHEDULE 13G
 
CUSIP No.066849100
  
Page 9 of 14 Pages
 
         
  1.
  
Name of Reporting Person
 
Terry Maltese
    
  2.
  
Check the Appropriate Box if a Member of a Group*
  
(a)  ¨
(b)  ¨
 
  3.
  
SEC Use Only
 
    
  4.
  
Citizen or Place of Organization
 
USA            
    

     
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
  
  5.    Sole Voting Power
 
 
  6.    Shared Voting Power
 
239,977
 
  7.    Sole Dispositive Power
 
 
 8.    Shared Dispositive Power
 
239,977        

         
 9.
  
Aggregate Amount Beneficially Owned by Each Reporting Person
 
239,977            
    
10.
  
Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares*
 
  
¨
 
11.
  
Percent of Class Represented by Amount in Row (9)
 
6.28%            
    
12.
  
Type of Reporting Person*
 
IN        
    
 
*SEE INSTRUCTIONS BEFORE FILLING OUT!


 
 
 



SCHEDULE 13G
 
CUSIP No.066849100
  
Page 10 of 14 Pages

Item 1(a).     Name of Issuer:
 Bar Harbor Bankshares

Item 1(b).     Address of Issuer's Principal Executive Offices:
                              82 Main Street, PO Box 400, Bar Harbor, ME 04609

Item 2(a).     Name of Person Filing:
This statement is being filed by (i) Sandler O'Neill Asset Management LLC, a New York limited liability company ("SOAM"), with respect to shares of Common Stock beneficially owned by Malta Partners, L.P., a Delaware limited partnership ("MP"), Malta Hedge Fund, L.P., a Delaware limited partnership ("MHF"), Malta Hedge Fund II, L.P., a Delaware limited partnership ("MHFII") and Malta Offshore, Ltd., a Cayman Islands company ("MO"), (ii) SOAM Holdings, LLC, a Delaware limited liability company ("Holdings"), with respect to shares of Common Stock beneficially owned by MP, MHF and MHFII, (iii) MP, with respect to shares of Common Stock beneficially owned by it, (iv) MHF, with respect to shares of Common Stock beneficially owned by it, (v) MHFII, with respect to shares of Common Stock beneficial ly owned by it, (vi) MO, with respect to shares of Common Stock beneficially owned by it, and (vii) Terry Maltese as Managing Member of SOAM, with respect to shares of Common Stock beneficially owned by MP, MHF, MHFII and MO; and as managing member of SOAM Ventures, LLC ("Ventures"), a Delaware limited liability company, with respect to shares of Common Stock beneficially owned by SOAM Capital Partners, L.P. ("SCP"), a Delaware limited partnership of which Ventures is the management company.  The foregoing persons are hereinafter sometimes referred to collectively as the "Reporting Persons".

Item 2(b).     Address of Principal Business Office:
The address of the principal offices of each of MP, MHF, MHFII, SCP, Holdings and SOAM and the business address of Mr. Maltese is Sandler O'Neill Asset Management LLC, 780 Third Avenue, 5th Floor, New York, New York 10017. The address of the principal office of MO is c/o Citco Fund Services (Cayman Islands) Limited, 89 Nexus Way, 2nd Floor, Camana Bay, PO Box 31106, Grand Cayman KY1-1205, Cayman Islands.

Item 2(c).     Citizenship:
Mr. Maltese is a U.S. Citizen.

Item 2(d).     Title of Class of Securities:
                             Common Stock

Item 2(e).     CUSIP Number:
066849100

Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b) or (c), check whether the person filing is a:
Not Applicable
 
 

 
 
 


SCHEDULE 13G
 
CUSIP No.066849100
  
Page 11 of 14 Pages


Item 4.   Ownership.

 (a) and (b)  Based upon an aggregate of 3,822,945 shares of Common Stock outstanding, as determined by the Issuer's most recently available public information, as of the close of business on December 31, 2010:

 
(i)
  
MP beneficially owned 5,600 shares of Common Stock, constituting approximately 0.15% of the shares outstanding.
  
(ii)
  
MHF beneficially owned 23,700 shares of Common Stock, constituting approximately 0.62% of the shares outstanding.
 
(iii)
  
MHFII beneficially owned 134,277 shares of Common Stock, constituting approximately 3.51% of the shares outstanding.
 
(iv)
  
MO beneficially owned 51,400 shares of Common Stock, constituting approximately 1.34% of the shares outstanding.
 
(v)
  
SCP beneficially owned 25,000 shares of Common Stock, constituting approximately 0.65% of the shares outstanding.
 
(vi)
  
SOAM owned directly no shares of Common Stock. By reason of its position as management company for MP, MHF, MHFII, MO, and as an affiliate of Ventures, management company for SCP, SOAM may be deemed to beneficially own the 5,600 shares owned by MP, the 23,700 shares owned by MHF, the 134,277 shares owned by MHFII, the 51,400 shares owned by MO, and the 25,000 shares owned by SCP, or an aggregate of 239,977 shares of Common Stock, constituting approximately 6.28% of the shares outstanding.
 
(vii)
  
Holdings owned directly no shares of Common Stock. By reason of its position as general partner of MP, MHF and MHFII, Holdings may be deemed to beneficially own the 5,600 shares owned by MP, the 23,700 shares owned by MHF, and the 134,277 shares owned by MHFII, or an aggregate of 163,577 shares of Common Stock, constituting approximately 4.28% of the shares outstanding.
 
(viii)
  
Mr. Maltese directly owned no shares of Common Stock. By reason of his position as Managing Member of Holdings, SOAM and Ventures, Mr. Maltese may be deemed to beneficially own the 5,600 shares owned by MP, the 23,700 shares owned by MHF, the 134,277 shares owned by MHFII, the 51,400 shares owned by MO, and the 25,000 shares owned by SCP, or an aggregate of 239,977 shares of Common Stock, constituting approximately 6.28% of the shares outstanding.
 
(ix)
  
In the aggregate, the Reporting Persons beneficially own 239,977 shares of Common Stock, constituting approximately 6.28% of the shares outstanding.


(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote:

No Reporting Person has sole power to vote or to direct the vote over the shares held by such Reporting Person.

(ii) Shared power to vote or to direct the vote:
 
 
 
MP:
5,600
MO:
51,400
HOLDINGS:
163,577
 
MHF:
23,700
SCP:
25,000
MR. MALTESE:
239,977
 
MHFII:
134,277
SOAM:
239,977
    


 
 
 




SCHEDULE 13G
 
CUSIP No.066849100
  
Page 12 of 14 Pages


(iii)  
Sole power to dispose or to direct the disposition of:

No Reporting Person has sole power to dispose or to direct the disposition over the shares held by such Reporting Person.

(iv) Shared power to dispose or to direct the disposition of:

 
MP:
5,600
MO:
51,400
HOLDINGS:
163,577
 
MHF:
23,700
SCP:
25,000
MR. MALTESE:
239,977
 
MHFII:
134,277
SOAM:
239,977
    

Each of the Reporting Persons hereby disclaims any beneficial ownership of any Shares in excess of their actual beneficial ownership thereof.
 
Item 5.         Ownership of Five Percent or Less of a Class:
  
      Not applicable.

Item 6.         Ownership of More than Five Percent on Behalf of Another Person.

      Not applicable.

Item 7.         Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company.

      Not applicable.

Item 8.         Identification and Classification of Members of the Group.

      Not applicable.

Item 9.         Notice of Dissolution of Group.
 
                      Not applicable.
 
Item 10.       Certification.

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.


Exhibits:  [Exhibit I:  Joint Acquisition Statement, dated as of February 14, 2011.]

 
 
 



SIGNATURES
 
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
 
Dated: February 14, 2011
 
 
 
                 
MALTA PARTNERS, L.P.
      
MALTA HEDGE FUND, L.P.
         
By:
  
SOAM Holdings, LLC,
the sole general partner         
      
By:
  
SOAM Holdings, LLC,
the sole general partner
         
By:
  
/s/ Terry Maltese
      
By:
  
/s/ Terry Maltese
   
Terry Maltese
Managing Member
          
Terry Maltese
Managing Member
     
MALTA OFFSHORE, LTD
      
MALTA HEDGE FUND II, L.P.

                 
         
By:
  
/s/ Terry Maltese
      
By:
  
SOAM Holdings, LLC,
   
Terry Maltese
          
the sole general partner
   
Director
      
By:
  
/s/ Terry Maltese
   
 
          
Terry Maltese
Managing Member

                 
SOAM CAPITAL PARTNERS, L.P.
      
Sandler O'Neill Asset
       
Management LLC
         
By:
  
SOAM Venture Holdings, LLC
      
By:
  
/s/ Terry Maltese
By:
  
/s/ Terry Maltese
          
Terry Maltese
    Terry Maltese            President
   
Managing Member
            

   
 
 
            
     
SOAM Holdings, LLC
      
Terry Maltese
         
By:
  
/s/ Terry Maltese
      
 By:
  
/s/ Terry Maltese
   
Terry Maltese
Managing Member
          
Terry Maltese

 

Page 13 of 14


 
 
 


EXHIBIT 1

JOINT ACQUISITION STATEMENT PURSUANT TO RULE 13d-1(k)

          The undersigned acknowledge and agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements.  The undersigned acknowledge that each shall be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate.

Dated:  February 14, 2011
 
 
                 
MALTA PARTNERS, L.P.
      
MALTA HEDGE FUND, L.P.
         
By:
  
SOAM Holdings, LLC,
the sole general partner         
      
By:
  
SOAM Holdings, LLC,
the sole general partner
         
By:
  
/s/ Terry Maltese
      
By:
  
/s/ Terry Maltese
   
Terry Maltese
Managing Member
          
Terry Maltese
Managing Member
     
MALTA OFFSHORE, LTD
      
MALTA HEDGE FUND II, L.P.

                 
         
By:
  
/s/ Terry Maltese
      
By:
  
SOAM Holdings, LLC,
    Terry Maltese           the sole general partner
   
Director
      
By:
  
/s/ Terry Maltese
               
Terry Maltese
Managing Member

                 
SOAM CAPITAL PARTNERS, L.P.
      
Sandler O'Neill Asset
       
Management LLC
         
By:
  
SOAM Venture Holdings, LLC
      
By:
  
/s/ Terry Maltese
By:
  
/s/ Terry Maltese
          
Terry Maltese
    Terry Maltese          
President
    Managing Member            

   
 
            
     
SOAM Holdings, LLC
      
Terry Maltese
         
By:
  
/s/ Terry Maltese
      
 By:
  
/s/ Terry Maltese
   
Terry Maltese
Managing Member
          
Terry Maltese
 
 

 
Page 14 of 14

 

 
SK 27061 0001 1170937


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