Another Merger – LSBG

Yesterday brought the announcement that Lake Sunapee Bank Group (LSBG) agreed to be acquired by Bar Harbor Bankshares (BHB).  This will be an all stock transaction valued at approximately $17.00 per LSBG share and represents a nearly 20% premium t0 yesterday’s close.  The terms:

  • .497 shares of BHB for each LSBG share.

I’ve had my eye on BHB for a little while but never pulled the trigger.  Perhaps the premium received will allay any nagging issues.


Lake Sunapee, being one of my poster children for my bank merger thesis, occupied a Satellite slot (1.5% dividends generated) in my portfolio.  Since the dividend date will change with the merger, I’ve decided to elevate Toronto-Dominion Bank to replace LSBG since they have the same payment date.