Bar Harbor Bankshares, the parent company of Bar Harbor Bank & Trust, July 29 announced net income of $4.3 million for the second quarter of 2016, representing an increase of $438 thousand, or 11.3 percent, compared with the second quarter of 2015.

The company also reported diluted earnings per share of $0.71 for the quarter, representing an increase of $0.07, or 10.9 percent, compared with the second quarter of 2015. The company’s annualized return on average shareholders’ equity amounted to 10.72 percent for the quarter, up from 10.31 percent in the second quarter of 2015. The company’s second-quarter return on average assets amounted to 1.05 percent, up from 1.01 percent in the second quarter of 2015.

On May 5, the company announced the signing of a definitive agreement and plan of merger pursuant to which the company will acquire Lake Sunapee Bank Group in an all-stock transaction valued at approximately $143 million. The market-expanding merger is expected to create efficiencies and strategic growth opportunities for both businesses through the leveraging of each other’s platforms and capabilities, and will create the only community bank headquartered in New England with a market footprint in all three northern New England states of Maine, New Hampshire and Vermont.