Retail Products and Services: The Bank offers a variety of consumer financial
products and services designed to satisfy the deposit and borrowing needs of its
retail customers. The Bank’s retail deposit products and services include
checking accounts, interest bearing NOW accounts, money market accounts, savings
accounts, club accounts, short-term and long-term certificates of deposit, Health
Savings Accounts, and Individual Retirement Accounts. Credit products and services
include home mortgages, residential construction loans, home equity loans and
lines of credit, credit cards, installment loans, and overdraft protection services.
The Bank provides secured and unsecured installment loans for new or used automobiles,
boats, recreational vehicles, mobile homes and other personal needs. The Bank
also offers other customary products and services such as safe deposit box rentals,
wire transfers, check collection services, foreign currency exchange, money orders,
and U.S. Savings Bonds redemptions.
The Bank staffs a call center, providing customers with telephone and e-mail
responses to their questions and needs. The Bank also offers free banking-by-mail
services.
Retail Brokerage Services: The Bank retains Infinex Investments, Inc., (“Infinex”)
as a full service third-party broker-dealer, conducting business under the assumed
business name “Bar Harbor Financial Services.” Bar Harbor Financial
Services is a branch office of Infinex, an independent registered broker-dealer
offering securities and insurance products that is not affiliated with the Company
or its subsidiaries. These products are not deposits, are not insured by the
FDIC or any other government agency, are not guaranteed by the Bank or any affiliate,
and may be subject to investment risk, including possible loss of value.
Bar Harbor Financial Services principally serves the brokerage needs of individuals,
from first-time purchasers, to sophisticated investors. It also offers a line
of life insurance, annuity, and retirement products, as well as financial planning
services. Infinex was formed by a group of member banks, and is one of the largest
providers of third party investment and insurance services to banks and their
customers in New England. Through Infinex, the Bank is able to take advantage
of the expertise, capabilities, and experience of a well-established third-party
broker-dealer in a cost effective manner.
Electronic Banking Services: The Bank continues to offer free Internet banking
services, including consumer remote deposit capture, e-statements, free check
images, and electronic bill payment, through its dedicated website at www.bhbt.com.
Additionally, the Bank offers telephone banking, an interactive voice response
system through which customers can check account balances and activity, as well
as initiate money transfers between their accounts. Customers can also monitor
their accounts with free mobile banking access via text messaging, browser or
“Apps”, and they can receive alerts, view accounts, transfer funds
and pay bills. The Bank also offers Popmoney®, an innovative personal payment
service that eliminates the need for checks and cash by allowing customers to
send and receive money as easily as they send and receive e-mail and text messages.
Automated Teller Machines (ATMs) are located at each of the Bank’s fifteen
(15) branch locations. The Bank is also a member of Maine Cash Access, providing
customers with surcharge-free access to over 225 ATMs throughout the state of
Maine. Visa debit cards are also offered, providing customers with free access
to their deposit account balances at point of sale locations throughout most
of the world.
Commercial Products and Services: The Bank serves the small business market
throughout downeast, midcoast and central Maine. It offers business loans to
individuals, partnerships, corporations, and other business entities for capital
construction, real estate and equipment financing, working capital, real estate
development, and a broad range of other business purposes. Business loans are
provided primarily to organizations and sole proprietors in the tourism, hospitality,
healthcare, blueberry, boatbuilding, biological research, and fishing industries,
as well as to other small and mid-size businesses associated with coastal communities.
The Bank offers a variety of commercial deposit accounts, most notably business
checking and tiered money market accounts. These accounts are typically used
as operating accounts or short-term savings vehicles. The Bank’s cash
management services provide business customers with short-term investment opportunities
through a cash management sweep program, whereby excess operating funds over
established thresholds are swept into overnight securities sold under agreements
to repurchase. The Bank also offers Business On-Line Direct (“BOLD”)
an Internet banking service for businesses. This service allows business clients
to view their account histories, print statements, view check images, order
stop payments, transfer funds between accounts, and transmit Automated Clearing
House (ACH) files. The Bank also offers remote deposit capture, enabling its
business customers to deposit checks remotely. Other commercial banking services
include merchant credit card processing provided through a third party vendor,
night depository, and coin and currency handling.
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