Lubec, Maine (November 18, 2020) – Bar Harbor Bank & Trust has pledged a $25,000 gift to support the Town of Lubec’s Safe Harbor Project. The gift, which will be paid out over a three-year period, will be used to maintain harbor upgrades the Town of Lubec will make using federal grant funds. The upgrades include a public boat landing and breakwater and will improve the access to the working waterfront for more than 150 commercial fisherman and shellfish harvesters.
“The Safe Harbor Project is critical to the economic vitality of Lubec and the safety of the fishermen who live and work there,” said Joseph Schmitt, Chief Marketing Officer at Bar Harbor Bank & Trust. “We are honored to partner with the Town of Lubec to make these improvements a reality and to improve the lives of more than 300 households in the area.”
The fishing industry is the biggest employer in Lubec, but the town does not have a public boat launch. The entire fishing fleet is on moorings, and without the launch, there is not a safe place for fisherman to launch skiffs during high winds or in spring tides. To address these issues, the Town of Lubec applied for and received funds through the U.S. Department of Transportation’s Better Utilizing Investments to Leverage Development (BUILD) Transportation Discretionary Grants program to make the harbor improvements. Bar Harbor Bank & Trust pledged gift helped the town secure the funding.
“On behalf of the fishermen and the Town of Lubec, I would like to thank Bar Harbor Bank & Trust for their support in the Safe Harbor Project, our community, its safety, and its economic growth,” said Carol Dennison, Town of Lubec Selectboard Chair.
Construction on the Safe Harbor Project will begin in 2021.
Bar Harbor Bankshares (NYSE American: BHB) is the parent company of its wholly owned subsidiary, Bar Harbor Bank & Trust. Operating over 50 locations across Maine, New Hampshire and Vermont, Bar Harbor Bank & Trust is headquartered in Bar Harbor, Maine and has more than $3.6 billion in assets. As a leading Northern New England community bank, Bar Harbor Bank & Trust offers a full range of personal and business banking services, as well as wealth management services through its subsidiaries Bar Harbor Trust Services and Charter Trust Company. For more information about Bar Harbor Bank & Trust, visit www.barharbor.bank or call 888-853-7100. Member FDIC.