Bar Harbor Bankshares, the parent company of Bar Harbor Bank & Trust, announced Oct. 28 that for the nine months ended Sept. 30, the company reported record net income of $12.3 million, representing an increase of $664,000, or 5.7 percent, from the prior year like period. The company’s diluted earnings per share amounted to $2.03 for the nine months ended Sept. 30, representing an increase of $0.10, or 5.2 percent, compared with the same period in 2015.

The company’s annualized return on average shareholders’ equity for the nine months ended Sept. 30 amounted to 10.19 percent, compared with 10.40 percent for the first nine months of 2015. The company’s annualized return on average assets for the nine months ended Setp. 30 amounted to 1.00 percent, compared with 1.02 percent for the nine months ended Sept. 30, 2015. This performance includes, and has not been adjusted for, $812,000 in expenses related to the impending and previously disclosed Lake Sunapee Bank Group merger, largely representing legal and other professional fees, of which $725,000 are not deductible for income tax purposes.

Net Income was $3.6 million for the three months ended Sept. 30, representing a decline of $299,000, or 7.6 percent, compared with the third quarter of 2015, as it included $320,000 in charges associated with the impending acquisition of Lake Sunapee, as well as $110,000 in executive search fees associated with the recently announced hiring of the company’s new chief financial officer.