BAR HARBOR BANKSHARES
8-K, 1999-11-19
STATE COMMERCIAL BANKS
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         SECURITIES AND EXCHANGE COMMISSION

                  Washington, D.C.

                      FORM 8-K

                   CURRENT REPORT

         Pursuant to Section 13 or 15 (d) of
       The Securities and Exchange Act of 1934

  Date of Report (Date of earliest event reported):
                  November 17, 1999


             BAR HARBOR BANKSHARES, INC.
    (Exact name of registrant as specified in its
                      charter)

MAINE                    841105-D            01-
0393663
(State or other jurisdiction
(Commission              (IRS Employer
of incorporation)        File Number)
Identification No.)


P O Box 400, 82 Main Street
Bar Harbor, ME                               04609-
0400
(Address of principal executive officers)    (Zip
Code)

Registrant's telephone number, including area code:
(207) 288-3314

<PAGE>

ITEM 5 - OTHER EVENTS

On November 17, 1999, Bar Harbor Bankshares, Inc.
announced that its Board of Directors had authorized
the purchase of up to 10% of its outstanding shares
in the open market or in privately negotiated
transactions. The news release regarding this
repurchase is attached to this filing.

ITEM 7 - FINANCIAL STATEMENTS AND EXHIBITS

     (a)  Financial statements - not applicable
     (b)  Pro forma financial information - not applicable
     (c)  Exhibits

          99   News Release issued by Bar Harbor Bankshares,
            dated November 17, 1999




SIGNATURES

Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has caused this
report to be signed on its behalf by the undersigned
hereunto duly authorized.

Dated:  November 19, 1999



                                     BAR HARBOR
BANKSHARES, INC.



                                     By:  /s/ Sheldon
F. Goldthwait, Jr.
                                        Sheldon F.
Goldthwait, Jr.
                                        President


For Further Information
Contact:                                 FOR IMMEDIATE
                                            RELEASE
Sheldon F. Goldthwait, Jr.
President & CEO
(207) 288-2634/1-800-924-7787


BAR HARBOR BANKSHARES
           BOARD AUTHORIZES STOCK REPURCHASE


     BAR HARBOR, MAINE (November 17, 1999) - The Board
of  Directors  of Bar Harbor Bankshares,  Inc.  (AMEX:
BHB) has authorized the repurchase of up to 10% of the
company's outstanding shares or approximately  344,000
shares.  The purchase will take place over the next 14
months  either  in  the open market  or  in  privately
negotiated  transactions.  For purposes  of  effecting
bids   and   purchases  of  its  shares,  Bar   Harbor
Bankshares   may  use,  from  time  to  time,   Dirigo
Investments, Inc., a registered broker-dealer that Bar
Harbor   Bankshares  has  agreed  to  acquire   as   a
subsidiary.
                     #     #     #





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