Released January 13, 2017
Bar Harbor, ME and Newport, NH – Bar Harbor Bankshares (NYSE MKT: BHB) (or “Bar Harbor”), the holding company for Bar Harbor Bank & Trust, has successfully completed its merger with Lake Sunapee Bank Group (or “Lake Sunapee”), the holding company for Lake Sunapee Bank. The company is now the only community bank headquartered in Northern New England with a market footprint in all three Northern New England states of Maine, New Hampshire and Vermont.
“The merger creates value for shareholders, customers and employees by creating efficiencies and strategic growth opportunities, allowing the combined organization to draw on various customer service, product, and technological strengths. The very compatible cultures of the two companies make the partnership a natural fit,” said Curtis C. Simard, President and CEO of Bar Harbor Bankshares. “The combined institution brings significant lending capacity and growing product development yet will remain focused on its responsibility to be an active participant in, and advocate for, community growth and prosperity.”
As a division of Bar Harbor Bank & Trust, Lake Sunapee Bank branches will continue to operate under the Lake Sunapee Bank name and William J. McIver, former Chief Operating Officer of Lake Sunapee, will continue with the combined company as Executive Vice President – Regional President, New Hampshire and Vermont Markets. Lake Sunapee Bank’s subsidiaries, McCrillis & Eldredge Insurance and Charter Trust Company will operate as subsidiaries of Bar Harbor Bank & Trust. Lake Sunapee directors Steven H. Dimick, Stephen W. Ensign and Stephen R. Theroux have been appointed to Bar Harbor’s board of directors.
“This historic partnership is a milestone for community banking in Northern New England. Both companies are enthusiastic to continue as a combined organization and to build on the reputations previously developed, sharing a focus on community involvement and outstanding customer service,” said Simard.
Approved by shareholders in October, 2016, Bar Harbor’s acquisition of Lake Sunapee grows the company to over $3 billion in assets, making it one of the largest community banks in Northern New England, with 49 branch locations across the three states of Maine, New Hampshire and Vermont.
Sandler O’Neill & Partners, L.P. served as the financial advisor to Bar Harbor, and Griffin Financial Group LLC served as the financial advisor to Lake Sunapee. K&L Gates LLP served as outside counsel to Bar Harbor, while Hogan Lovells US LLP served as outside counsel to Lake Sunapee.
About Bar Harbor Bankshares
Bar Harbor Bankshares (NYSE MKT: BHB) is the parent of Bar Harbor Bank & Trust. Founded in 1887, Bar Harbor Bank & Trust is a true community bank serving the financial needs of its clients for over 125 years. Bar Harbor provides a full range of financial services through its 49 branch locations in all three Northern New England states of Maine, New Hampshire and Vermont. Bar Harbor offers easy-to-understand deposit and loan products for families, businesses, and non-profit organizations. For more information, visit www.bhbt.com.
Caution About Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, expectations or predictions of future financial or business performance, conditions relating to Bar Harbor. Forward- looking statements are typically identified by words such as “believe,” “expect,” “anticipate,” “intend,” “target,” “estimate,” “continue,” “positions,” “prospects or “potential,” by future conditional verbs such as “will,” “would,” “should,” “could” or “may,” or by variations of such words or by similar expressions. These forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements are made only as of the date of this press release, and Bar Harbor undertakes no obligation to update any forward-looking statements contained in this press release to reflect events or conditions after the date hereof. Actual results may differ materially from those described in any such forward-looking statements.
In addition to factors previously disclosed in the reports filed by Bar Harbor and Lake Sunapee with the U.S. Securities and Exchange Commission (the “SEC”) and those identified elsewhere in this document, the following factors, among others, could cause actual results to differ materially from forward looking statements or historical performance: difficulties and delays in integrating the business or fully realizing cost savings and other benefits; changes in asset quality and credit risk; the inability to sustain revenue and earnings growth; changes in interest rates and capital markets; inflation; customer acceptance of products and services; customer borrowing, repayment, investment and deposit practices; competitive conditions; economic conditions, including downturns in the local, regional or national economies; the impact, extent and timing of technological changes; changes in accounting policies or practices; changes in laws and regulations; and other actions of the Federal Reserve Board and other legislative and regulatory actions and reforms.
Good New for Community Banking: Lake Sunapee Bank will merge with Bar Harbor Bank & Trust in a transaction that will be officially completed on January 13, 2017.
Released December 13, 2016
Released October 28, 2016
Newport, NH - Lake Sunapee Bank is pleased to announce that Sarah Baker has been appointed Branch Manager of its Randolph, VT, Main Street location. Starting on November 7, 2016 Sarah will manage all aspects of the branch’s operations, working closely with customers and staff.
When asked about her transition to the Branch Manager position, Sarah shared “I’m looking forward to reconnecting with the Randolph community and helping its members achieve their financial goals.” Sarah possesses a wealth of banking and customer service experience, and is a familiar face in the Randolph area having most recently worked out of Lake Sunapee Bank’s Randolph location as Regional Security Manager.
Sarah has been in the banking industry for 18 years and is a native Vermonter. She attended Lyndon State College and went on to hold various roles including branch manager positions at Chittenden Bank, People’s United Bank, and Randolph National Bank. Sarah is passionate about being involved in her community, and has served on the board of the White River Valley Chamber of Commerce, as a member of the Advisory Committee for the Heart of Vermont Enterprise Revolving Loan Fund, and as an active member of the Rotary Club. Sarah lives in Barre, VT with her husband, John, and their four rescue dogs: Oscar, Chewy, Callahan and Daisy.
Released August 26, 2016
Newport, NH - Lake Sunapee Bank is pleased to announce its collaboration with Bankers’ Bank Northeast in support of CATCH Neighborhood Housing based in Concord, NH. Through funds raised by its participation in Bankers’ Bank Northeast’s annual Charitable Golf Tournament, Lake Sunapee Bank is thrilled to contribute $2,000 to CATCH Neighborhood Housing.
Bankers’ Bank Northeast’s golf tournament invites member banks to participate and raise funds to be donated to local organizations. Participating banks are entered into a drawing and randomly awarded a contribution from the tournament proceeds to be donated to a nonprofit of their choice. Lake Sunapee Bank has chosen CATCH to be the beneficiary of its portion of the 2016 tournament proceeds.
“We are proud to support CATCH Neighborhood Housing in their efforts to provide affordable housing and education in New Hampshire. Lake Sunapee Bank has a strong history as an advocate for prosperity and community growth, and we are thrilled that Bankers’ Bank Northeast has provided us with an opportunity to support an organization that offers so many valuable resources for individuals and families seeking affordable homes.” said Stephen Theroux, President and Chief Executive Officer of Lake Sunapee Bank, about the contribution.
“CATCH is so honored to receive this generous support from our friends at Lake Sunapee Bank and Bankers’ Bank Northeast,” said CATCH President, Rosemary M. Heard. “These funds will help us continue to create housing that is affordable for individuals and families across Merrimack County. Housing is truly a community-wide issue, and we are so thankful for organizations like Lake Sunapee Bank who are helping us create a community where every person is confident of a home.”
CATCH Neighborhood Housing focuses on providing affordable housing and development in Merrimack County, NH by finding creative housing solutions for low to moderate income individuals and families. CATCH Neighborhood Housing manages a wide array of programs including development projects, its HOMETeam NH program which offers home buyer education, and its Alliance Asset Management program which offers rental and property management services. Education initiatives are focused on both helping people purchase a home and understanding the foreclosure process. CATCH Neighborhood Housing offers education through online courses, one-on-one counseling, home buying seminars, and foreclosure prevention programs. Lake Sunapee Bank is proud to support CATCH Neighborhood Housing’s mission to strengthen communities by creating opportunities for permanently affordable, quality housing for people otherwise not being served.
Since 1868, Lake Sunapee Bank has been dedicated to supporting the communities it serves through charitable giving and volunteerism, and by embracing its responsibility to advocate for community growth and prosperity. Lake Sunapee Bank is pleased to partner with Bankers’ Bank Northeast to offer a contribution to CATCH Neighborhood Housing.
About Bankers’ Bank Northeast (BBN): BBN offers a reliable source for correspondent services. Our mission is to assist in the growth and prosperity of community based depository institutions. As a result, we are committed to providing high quality, leading-edge products and services. BBN provides credit, operational, risk control and advisory services to investor and non-investor depository institutions. A relationship with BBN offers the opportunity for cost savings, revenue enhancement, improved competitiveness, and scalable growth in a high quality, secure, responsive, consistent and reliable manner. BBN — Empowering community financial institutions through products, information and solutions.
About CATCH Neighborhood Housing: CATCH Neighborhood Housing is an award-winning, non-profit, housing provider that has been providing affordable homes in Merrimack County for over 25 years. CATCH offers a full spectrum of housing services, such as homebuyer education, housing counseling and foreclosure assistance through HOMEteam (www.hometeamnh.org), asset and property management through Alliance Asset Management (www.alliancenh.com), and 284 affordable rental apartments that over 600 low-income adults and children call home. For more information on CATCH Neighborhood Housing call (603) 225-8835 or visit http://www.catchhousing.org.
Photo Caption: Members of the Lake Sunapee Bank team present CATCH Neighborhood Housing with Lake Sunapee Bank and Bankers’ Bank Northeast’s $2,000 contribution. Pictured are (left to right) Deb Johnson, Vice President, Commercial Loan Officer, Lake Sunapee Bank, Rosemary M. Heard, President, CATCH Neighborhood Housing, and Kaitlyn Covel, Relationship Banking Manager, Lake Sunapee Bank.
Released August 1, 2016
Newport, NH - Lake Sunapee Bank is pleased to announce its $5,000 contribution to Hope for New Hampshire Recovery in support of their efforts to provide community outreach, education, and free recovery coaching for the chronic disease of addiction.
“We have a strong history as a community advocate, and we are proud to support the noble work of Hope for New Hampshire Recovery in increasing substance abuse awareness and supporting those afflicted with the disease of addiction.” said Stephen Theroux, President and Chief Executive Officer, about Lake Sunapee Bank’s contribution.
“Lake Sunapee Bank’s contribution will significantly support the efforts of Hope for New Hampshire Recovery in transforming the way addiction and recovery is perceived. Recovery begins the moment someone raises their hand for help and it never ends” shared Cheryl Coletti-Lawson, President and CEO. "This is an exciting time for Hope for New Hampshire Recovery as we expand our reach across New Hampshire and are able help more of those individuals struggling with addiction.”
Lake Sunapee Bank is pleased to assist Hope for New Hampshire Recovery, which operates five Recovery Centers throughout the state. In an effort to expand services, three new Recovery Centers were opened in 2016 in the Claremont, Concord, and Newport communities. Two more recovery centers in Berlin and Franklin will open this Fall. These Recovery Centers predominantly serve moderate to low-income individuals, and offer resources for recovery including peer coaching, support services, wellness workshops, family education, and community outreach. Hope for New Hampshire Recovery also operates an innovative Workplace Initiative Program, which takes services directly into the workplace in an effort to reach individuals who may not otherwise seek support. The Workplace Initiative Program aims to support workers and employers, in turn preventing absenteeism, high turnover, and loss in productivity, and ultimately promoting economic development.
Since 1868, Lake Sunapee Bank has been committed to supporting its communities through charitable giving and volunteerism. The Bank’s giving philosophy centers around having a meaningful impact and embracing its responsibility to advocate for community growth and prosperity.
About Hope for New Hampshire Recovery: Hope for New Hampshire Recovery is a 501c3 advocacy organization with a mission to get drug and alcohol addiction sufferers well. In 2016, the organization became the New Hampshire affiliate of Face It Together, a national organization working with communities to fundamentally transform how they deal with drug and alcohol addiction. Hope for New Hampshire Recovery offers free, long-term peer support to help individuals and families manage the chronic disease of addiction. The organization enlists employers, health care and other key stakeholders to eliminate barriers that keep people from getting well and staying well and operates recovery centers throughout New Hampshire that create a continuum of care for those with this chronic disease.
Lake Sunapee Bank and the Federal Home Loan Bank of Boston Partner for Grants for New England Contribution to NH Food Bank
Released July 7, 2016
Newport, NH - Lake Sunapee Bank is pleased to announce its participation in the Grants for New England Partnerships program with the Federal Home Loan Bank of Boston. Through this partnership, Lake Sunapee Bank and the Federal Home Loan Bank of Boston (FHLBB) are pleased to support the New Hampshire Food Bank with a $4,000 total donation.
The Grants for New England Partnerships program works by awarding eligible member institutions a grant to distribute to a local nonprofit. Lake Sunapee Bank was awarded a $2,000 grant, and opted to match the grant with an additional $2,000 donation. The New Hampshire Food Bank was chosen as the beneficiary of the total $4,000 contribution.
“We are proud to support the New Hampshire Food Bank’s mission of providing resources to fight hunger in New Hampshire. Lake Sunapee Bank has a deeply rooted history as an advocate for community prosperity, and we are excited to have the opportunity to participate in the Grants for New England Partnerships program and further our community support efforts.” said Stephen Theroux, President and Chief Executive Officer, about the Bank’s contribution.
When asked her thoughts on the contribution, Mel Gosselin, Executive Director of the New Hampshire Food bank, shared “We are truly grateful to Lake Sunapee Bank and the Federal Home Loan Bank of Boston for partnering with the NH Food Bank through the Grants for New England Partnerships program. Summer months can be a very difficult and stressful time for children and families who rely on free and reduced school breakfast and lunch programs. This donation will help us further our support for these families.”
The New Hampshire Food Bank serves as the only food bank in the state of New Hampshire and works to provide nutritious food and resources to thousands of food insecure New Hampshire residents. In 2015, the New Hampshire Food Bank provided over 12 million pounds of food to over 400 agencies including food pantries, homeless shelters, soup kitchens, and more. Beyond collecting and supplying food, the Food Bank hosts a variety of programs designed to educate adults and families, enabling them to become more self sufficient and improve their quality of life.
As an FHLBB member, Lake Sunapee Bank was eligible to participate in the Grants for New England Partnerships program because of its involvement in the FHLBB’s Jobs for New England program. The Jobs for New England program allows Lake Sunapee Bank and the FHLBB to partner to offer small business loans with extremely low interest rates to businesses that qualify. These loans must be used to create or retain jobs, expand minority, veteran, or woman-owned businesses, or support the local New England economy in another measurable way.
Lake Sunapee Bank is pleased to partner with the FHLBB on both the Grants for New England Partnerships and Jobs for New England programs. Since 1868, Lake Sunapee Bank has been dedicated to supporting the various communities it serves through charitable giving and volunteerism, and by embracing its responsibility to advocate for community growth and prosperity.
About the Federal Home Loan Bank of Boston (FHLBB): The Federal Home Loan Bank of Boston is a cooperatively owned wholesale bank for housing finance in the six New England states. Its mission is to provide highly reliable wholesale funding and liquidity to its member financial institutions in New England. The Bank also develops and delivers competitively priced financial products, services, and expertise that support housing finance, community development, and economic growth, including programs targeted to lower-income households.
About the New Hampshire Food Bank: The New Hampshire Food Bank, a program of Catholic Charities New Hampshire, has been working to relieve hunger in the Granite State since 1984. In 2015, as the state’s only Food Bank, the New Hampshire Food Bank efficiently procured and distributed over 12 million pounds of food to people in need through more than 400 non-profit registered agencies. Agencies include food pantries, neighborhood centers, low-income housing sites, senior nutrition centers, family crisis centers, hospices, soup kitchens, emergency shelters, after school programs, and day care centers. For more information about the New Hampshire Food Bank, please visit www.nhfoodbank.org.
Photo Caption: Members of the Lake Sunapee Bank team present the New Hampshire Food Bank with Lake Sunapee Bank’s portion of the $4,000 total Grants for New England Partnerships contribution. Pictured are (left to right) Deb Johnson, Vice President, Commercial Loan Officer, Lake Sunapee Bank, Mel Gosselin, Executive Director, New Hampshire Food bank, and Kaitlyn Covel, Relationship Banking Manager, Lake Sunapee Bank.
Released June 30, 2016
Newport, NH - Lake Sunapee Bank is pleased to announce its recent contribution to the Hanover Improvement Society to be used for renovations and improvements at the Storrs Pond Recreation Area in Hanover, NH.
“We pride ourselves in giving back to the community and are thrilled to be a part of these facilities improvements. Storrs Pond is a stellar venue in the Upper Valley that offers a variety of outdoor activities for all ages.” said Dean Cashman, Vice President Commercial Loan Officer based at Lake Sunapee Bank’s Hanover, NH office.
When asked about the meaningfulness of the contribution, Jeff Graham, General Manager of the Hanover Improvement Society, said “As a nonprofit, the extremely generous contribution made by Lake Sunapee Bank is a huge help in allowing us to complete the bathhouse project in a way that we would not have been able to otherwise.”
Lake Sunapee Bank is thrilled to assist the Hanover Improvement society in its mission to support efforts that maintain and improve the Hanover community’s quality of life. The Hanover Improvement Society owns and operates Campion Ice Skating Rink, the Nugget Theater, and Storrs Pond Recreation Area, a popular outdoor area offering swimming, hiking, tennis, basketball, volleyball, and mountain biking among other activities. Storrs Pond provides a safe and fun environment for families in the summer, and saw over 38,000 visitors in 2015 and annual memberships from over fifteen area towns. Storrs Pond also provides use of its space for a variety of camps, schools, and nonprofits.
Funds from Lake Sunapee Bank’s donation will be used specifically to support renovations at Storrs Pond and will provide a significant boost to two main projects: renovations to the Bathhouse and the construction of a Splash Pad. The current Bathhouse, constructed in 1963, provides restrooms, changing areas, and showers to visitors. Renovations include a new roof, additional bathrooms, improved plumbing, exterior showers, and the addition of a First Aid room. Renovation projects also include the construction of a Splash Pad, an outdoor play area with an array of flush nozzles and fountains, which is scheduled to be completed mid-summer of this year. The Splash Pad will provide another water activity where visitors of all ages can cool off in the hot summer months.
Since 1868, Lake Sunapee Bank has been committed to supporting its communities through charitable giving and volunteerism. The Bank’s giving philosophy centers around having a meaningful impact and embracing its responsibility to advocate for community growth and prosperity.
About the Hanover Improvement Society and Storrs Pond Recreation Area: Storrs Pond Recreation Area is an outdoor area offering swimming, tennis courts, basketball, volleyball, hiking, mountain biking, as well as scenic picnic and campsites. Visitors can partake in the instructional swimming program, the instructional tennis program, and various summer day camps. The Recreation Area is owned and operated by the Hanover Improvement Society, a non-profit 501(3)c corporation whose mission is to identify, evaluate, and support opportunities to quietly maintain and improve the Hanover community by the funding of “good works” projects. The sources of funding include revenue from the operation of the Nugget Theatre, James W. Campion III Ice Skating Rink, Storrs Pond Recreation Area, rental properties, investments, and private contributions.
Photo Caption: Members of the Lake Sunapee Bank and Hanover Improvement Society teams gather in the entrance of the new bathhouse at Storrs Pond to present a donation for the improvements. Pictured are (left to right) Jeff Graham, General Manager, Hanover Improvement Society, Dean Cashman, Vice President Commercial Loan Officer, Lake Sunapee Bank, Dick Dodds, Facilities Manager, Storrs Pond, and Randy Mudge, Board President, Hanover Improvement Society.
Released June 23, 2016
Newport, NH - Lake Sunapee Bank is pleased to announce its continuing partnership with the Center for Financial Training & Education Alliance (CFTEA) and its employees’ participation as instructors, board members, and students. At CFTEA’s annual banquet on June 6, Lake Sunapee Bank employees were recognized for earning certificates or diplomas in 32 different programs this year ranging from Customer Service, to Bank Operations, to Personal Trusts.
Lake Sunapee Bank has a long history of encouraging and supporting the personal and professional development of its employees. The Bank sees a strong connection between providing education, training, and personal growth opportunities for employees and creating an environment where employees are dedicated to providing consistent service of the highest level for all customers.
When reflecting on the Bank’s partnership with CFTEA, Stephen Theroux, President and Chief Executive Officer at Lake Sunapee Bank, shared “We pride ourselves on helping employees to feel fulfilled through learning and growth opportunities both professionally and personally. The happiness and success of our employees is important to us, and we are proud to partner with CFTEA to offer employees education and training programs that help them expand and improve their skills and provide excellent service.”
Lake Sunapee Bank has utilized CFTEA as a resource for high-standard educational programs in financial services, including American Bankers Association certificates and diplomas, for over fifteen years. CFTEA offers a variety of courses aimed at providing job specific skills and knowledge, and many of these programs are applicable to nationally recognized diplomas and can count as college credit.
So far this year, 38 Lake Sunapee Bank employees have collaborated with CFTEA and Lake Sunapee Bank students have completed over 70 different CFTEA courses in subjects including Credit Analysis, Emotional Intelligence, Teller Customer Relations, and Leadership.
Lake Sunapee Bank CFTEA graduates recognized at the June 6 CFTEA banquet include: Anna Gearwar, Teller/Customer Service Representative, Brandon, VT, Brenda Foskitt, Commercial Lending Assistant, Main Street, New London, NH, Candance Reed, Customer Service Representative II, Claremont, NH, Catharina Harding, Teller/Customer Service Representative, Brandon, VT, Chere Jankosky, Branch Manager I, West Rutland, VT, Cheryl Nestler, Customer Service Representative II, Main Street, New London, NH, Cynthia Lessard, Teller/Customer Service Representative, Claremont, NH, Faith Mitchell, Loan Processor I, Newport, NH, Jake Jarvi, eBanking Assistant, Newport, NH, Jayne Rayno, Assistant Vice President Business Banking Services, Main Street, New London, NH, Jessica Beavers, Teller/Customer Service Representative, Bethel, VT, Jessica Walker, Assistant Vice President Branch Manager II, Claremont, NH, Kaitlyn Covel, Relationship Banking Manager, Concord, NH, Kelly Spiller, Branch Manager I, Grantham, NH, Kimberly Carrier, Assistant Vice President Customer Service Center Manager, Newport Road, New London, NH, Kimberly Reed, Closing Production Specialist, Newport, NH, Melissa Case, Assistant Vice President Branch Manager II, Brandon, VT, Nicole Bellavance, Mortgage Production Assistant, Newport, NH, Patti Fillioe, Teller/Customer Service Representative, Pittsford, VT, Shelley Griswold, Assistant Branch Manager, Peterborough, NH, Sueann Benoit, Customer Service Representative II, Main Street, New London, NH, Susan Ohlson, Assistant Compliance Auditor, Newport, NH, Susan Solimine, Teller/Customer Service Representative, Bradford, NH, Theresa Davis, Branch Manager I, Pittsford, VT, Tiffany Ash, Branch Manager I, Hillsboro, NH, Tori Wainwright, Deposit Operations Auditor, Newport, NH, Tristin Jewell, Customer Service Representative II, Main Street, New London, NH, Vicki Lewis, Vice President Director of Lending Operations, Newport, NH, and Victoria Mann, Loan Servicing Support Specialist, Newport, NH.
Lake Sunapee Bank CFTEA students recognized for being named Honor Students include: Brenda Foskitt, Commercial Lending Assistant, Main Street, New London, NH, Cynthia Lessard, Teller/Customer Service Representative, Claremont, NH, Kerry Drapala, Funds Specialist, Newport, NH, Rachel Carmen, CIF Assistant, Newport, NH, Theresa Davis, Branch Manager I, Pittsford, VT, and Tiffany Ash, Branch Manager, Hillsboro, NH.
Lake Sunapee Bank employees who are CFTEA Instructors include: Debora Henderson, Senior Vice President Retail Operations Officer, West Lebanon, NH, Dianne Nicol, Vice President Risk Coordinator/CRA Officer, Newport, NH, Marlene Gardner, Vice President Chief Security Officer, Newport, NH, Martin Walsh, Vice President Commercial Credit Manager, Newport, NH, Richard Forleo, Employee Development Manager, Newport, NH, and Wanda Clough, Employee Development Coordinator, Hillsboro, NH.
Lake Sunapee Bank CFTEA Board Members include: Judith Folsom, Vice President Training and Education Manager, Newport, NH, and Wanda Clough, Employee Development Coordinator, Hillsboro, NH.
Lake Sunapee Bank is pleased to partner with CFTEA to provide educational and training opportunities to employees. Since 1868, Lake Sunapee Bank has been dedicated to supporting the personal and professional development of its employees and providing excellent service to all customers.
About the Center for Financial Training & Education Alliance
The Center for Financial Training (CFTEA) provides education, training and informational courses and seminars for the financial services industry throughout Maine, New Hampshire, Vermont and Virginia. Many of the courses CFTEA offers are applicable to nationally recognized diplomas and certificates, and can often be transferred to colleges and universities. The goal of all CFTEA training and educational programs is to provide job specific skills and knowledge to the financial services industry. CFTEA is a professionally staffed, non-profit committed to offering professional continuing education programs in partnership with financial institutions and their employees. We value and deliver a high standard of cost-effective educational programs while promoting personal growth through professional development.
Released June 17, 2016
Newport, NH - Each year, Lake Sunapee Bank recognizes a graduating student from 23 local high schools in its market area with its $500 Citizenship Award. Each student is chosen by his or her respective high schools for exemplary scholastic and community contributions during his/her tenure at the High School.
Lake Sunapee Bank congratulates the following students by presenting each one with our 2016 Citizenship Award.
- Concord High School, Concord, NH: Katelyn Butler
- Con-Val High School, Peterborough, NH: Madeline Ciocci
- Hanover High School, Hanover, NH: Kevin Hybels
- Hillsboro-Deering High School, Hillsboro, NH: Deviroux D’Errico
- Kearsarge Regional High School, Sutton, NH: Cynthia Clausen
- Lebanon High School, Lebanon, NH: Kyle Grohbrugge
- Mascoma Valley Regional High School, Enfield, NH: Serena Lyman
- Milford High School, Milford, NH: Maxwell Urda
- Nashua High School North, Nashua, NH: Nicolina Braccio
- Nashua High School South, Nashua, NH: Kelli Thornhill
- Newport High School, Newport, NH: Jeremy Dewey
- Otter Valley Union High School, Brandon, VT: Kendra Stearns
- Randolph Technical Career Center, Randolph, VT: Destiny "Dessa" Duval
- Randolph Union High School, Randolph, VT: Connor Baker
- Rochester School, Rochester, VT: Ada Bowman
- Rutland High School, Rutland, VT: Mia Sanborn
- South Royalton School, South Royalton, VT: Rachel Moore
- Stevens High School, Claremont, NH: Emily Varnkham
- Sunapee Middle High School, Sunapee, NH: Rachel Malanga
- West Rutland School, West Rutland, VT: Miya Mondella
- Whitcomb Junior Senior High School, Bethel, VT: Jenna Harrington
- Williamstown Middle High School , Williamstown, VT: Skyler Woodworth
- Woodstock Union High School, Woodstock, VT: Peter Wilson
Released June 14, 2016
Newport, NH - Lake Sunapee Bank is pleased to announce the launch of its new, enhanced website at www.lakesunbank.com. The new website unifies the websites for Lake Sunapee Bank and McCrillis and Eldredge Insurance while offering improved design and functionality.
The enhanced website is fully responsive, further improving user experience and usability. This responsive design provides optimal viewing across a wide range of devices, including cell phones, tablets, and computers, allowing users to switch from device to device easily.
Through the enhanced website, customers will be able to easily find banking, insurance, and wealth management information all in one location. The new website houses an abundance of online resources for Lake Sunapee Bank and its subsidiary McCrillis and Eldredge Insurance. The website for Charter Trust, Lake Sunapee Bank’s wealth management company, can be easily accessed as well.
For more information and to view the new site, visit www.lakesunbank.com.
Lake Sunapee Bank Partners with the Federal Home Loan Bank of Boston for the Jobs for New England Program
Released June 8, 2016
Newport, NH - Lake Sunapee Bank is pleased to announce its participation in the Jobs for New England program through the Federal Home Loan Bank of Boston. This program allows Lake Sunapee Bank to offer low interest loans to small businesses in an effort to stimulate the local economy in the areas it serves.
“We’re proud to partner with the Federal Home Loan Bank of Boston to take part in the Jobs for New England program. This program has created an opportunity to pass exceptionally low-interest funds along to our customers and has allowed us to find new ways to support small businesses and stimulate the economy in the areas we serve. We are excited to be a part of this program’s success.” said Stephen Theroux, President and Chief Executive Officer.
Through the Jobs for New England program, the Federal Home Loan Bank of Boston (FHLBB) offers members zero-percent financing on funds to be used for small business loans that meet specific criteria. These loans must be used to create or preserve jobs, expand woman-owned, minority-owned, or veteran-owned businesses, or support the local economy in another measurable way. Because the interest rate on the advance is completely subsidized, Lake Sunapee Bank is able to offer small business loans that qualify at much lower interest rates than would typically be available.
As an FHLBB member, Lake Sunapee Bank is able to take advantage of this program and has already helped two New Hampshire businesses in two different regions. The Skinny Pancake of Hanover, NH, has created 30 jobs in the Upper Valley region, and Firmly Rooted Landscaping in Weare, NH, has both retained and created jobs in the Southern New Hampshire region.
By participating in the Jobs for New England program, Lake Sunapee Bank is able to further its mission of supporting local communities and embracing its responsibility to advocate for community growth and prosperity. Lake Sunapee Bank looks forward to supporting more small business customers through the Jobs for New England program in the future.
About the Federal Home Loan Bank of Boston (FHLBB): The FHLBB provides wholesale credit for members and other qualified borrowers and serves banks, credit unions, community development financial institutions, and insurance companies. The FHLBB strives to consistently develop and deliver the best financial products, services, and expertise that support housing finance, community development, and economic growth, including programs targeted to lower-income households.
Released June 1, 2016
Newport, NH– Lake Sunapee Bank is pleased to announce the results of its recent community support initiative in the Concord, NH region: The Capital Cause Challenge.
The Challenge was held May 16 through May 31, 2016, and invited community members into the Bank’s Concord Office at 8 Loudon Road to vote for their favorite nonprofit. Voters had the choice of five local organizations, each focusing on a different community need. At the end of the voting period, the Bank pledged to make a donation to each nonprofit for a grand total of $12,500; the nonprofit with the most votes received the largest portion of the donation.
All participating organizations teamed up with Lake Sunapee Bank to encourage community members and supporters to vote, and the Capital Cause Challenge saw an excellent turnout. Lake Sunapee Bank is pleased to share the voting results and donations for each organization:
- $5,000 Donation and First Place: Pope Memorial SPCA of Concord-Merrimack County
- $2,500 Donation and Second Place: Hearts for Kindness
- $1,500 Donation and Third Place: Capital Center for the Arts
- $1,500 Donation and Fourth Place: Concord Regional Visiting Nurse Association
- $1,500 Donation and Fifth Place: Boys and Girls Club of Central New Hampshire
Lake Sunapee Bank’s Concord Office truly enjoyed hosting the Capital Cause Challenge. Kaitlyn Covel, Relationship Banking Manager at the Concord Office, shared these thoughts “This Challenge has been a wonderful way to give back to the Concord community and meet our neighbors. We are thrilled to support so many local nonprofits that have such an incredible impact on our region. We’d like to extend a thank you to everyone who stopped by and voted and we are looking forward to getting further involved in the Concord community!”
The organization taking home the largest donation was Pope Memorial SPCA of Concord-Merrimack County. When asked about her thoughts on the Challenge, Suzy Butler, Executive Director, shared “The Pope Memorial SPCA was thrilled to partner with Lake Sunapee Bank in their Capital Cause Challenge. The bank has a long history of supporting non-profits in the community and we are so appreciative that they gave the PMSPCA and our supporters a chance to take part in this challenge. Their generosity will have quite an impact in what we are able to do for the homeless animals in our care.”
Lake Sunapee Bank was excited to extend support to each of the five participating organizations, not just the first place winner. Concord Regional Visiting Nurse Association was thrilled to be able to participate. "Thank you to Lake Sunapee Bank and all of our community members who voted for us," said Beth J. Slepian, PT, President/CEO of Concord Regional VNA. "Donations like this one from Lake Sunapee Bank are extremely critical in supporting our services and programs that we offer to the communities we serve." Hearts for Kindness, Capital Center for the Arts and the Boys and Girls Club of Central New Hampshire expressed appreciation for their supporters in the Challenge as well.
The Capital Cause Challenge was created as a way to thank the Concord area for welcoming Lake Sunapee Bank’s newest branch to the region. Lake Sunapee Bank has a longstanding tradition of community support through charitable giving and volunteerism, and is excited to extend this support into the Concord region.
Photo Caption: Members of the Lake Sunapee Bank Concord team visit the Pope Memorial SPCA, winners of the Capital Cause Challenge, to drop off a $5,000 donation. Pictured are (back row, left to right) are Suzy Butler, Executive Director, Pope Memorial SPCA, Kaitlyn Covel, Relationship Banking Manager, Lake Sunapee Bank, Vincent Trento, Board President, Pope Memorial SPCA, Deb Johnson, Vice President, Commercial Loan Officer, Lake Sunapee Bank, (front row) Lori Taylor, Director of Marketing and Development, Pope Memorial SPCA holding Ginger.
Released June 1, 2016
Newport, NH – Lake Sunapee Bank is pleased to announce its commitment to support New Hampshire Public Radio’s Campaign for Innovation with recurring annual donations through 2021. This contribution pledge allows Lake Sunapee Bank to offer long term support of NHPR’s efforts to enrich communities with vibrant, trusted media.
When asked about the meaningfulness of the contribution, Deb Johnson, Vice President Commercial Loan Officer at Lake Sunapee Bank, Concord, noted "NHPR is an invaluable resource in the local community and the State of New Hampshire as a whole, providing tremendous programming to its listeners. We are excited to be able to contribute to the Campaign for Innovation and support the continuation and growth of NHPR's work."
Lake Sunapee Bank is delighted to bolster NHPR in continuing to be a stalwart of independent, enterprising journalism. Funds from the Campaign for Innovation will support a variety of ventures, including editorial initiatives, the development of a new weekly program and podcast, and the expansion of facilities including control rooms, a broadcast studio, and newsroom.
In response to the contribution, Betsy Gardella, President and CEO of NHPR, shared that "New Hampshire Public Radio is honored to have the support of Lake Sunapee Bank for our Campaign for Innovation. One of the Campaign goals is to strengthen New Hampshire communities through journalism excellence. This ties closely to Lake Sunapee Bank's philosophy on community-centered giving. The impact of their support will be felt across New Hampshire and for that, we are so grateful."
Since 1868, Lake Sunapee Bank has been dedicated to supporting the various communities it serves through sponsorship, charitable giving and volunteerism. The Bank is passionate about its giving philosophy, which centers on having a meaningful impact and embracing its responsibility as an advocate for community growth and prosperity. With the opening of Lake Sunapee Bank’s new Concord office at 8 Loudon Road, the Bank is excited to expand its longstanding tradition of community giving into the Concord region.
Photo Caption: Members of the Lake Sunapee Bank and NHPR teams on a recent visit to the NHPR recording studios in Concord, pictured are (left to right) Deb Johnson, Vice President, Commercial Loan Officer, Lake Sunapee Bank, Betsy Gardella, President and CEO, NHPR, and Kaitlyn Covel, Relationship Banking Manager, Lake Sunapee Bank.