Mainebiz

V O L . X X I I N O. X V I I I A U G U S T 8 , 2 0 1 6 10 B U S I N E S S M A I N E B U S I N E S S M A I N E B U S I N E S S N E W S F RO M A RO U N D T H E S TAT E Camden National Corp. reported net income for the second quarter of 2016 of $9.6 million and diluted earnings per shares of 92 cents, representing an increase over the fi rst quarter of 2016 of 11% and 10%, respectively. Total rev- enues for the second quarter of 2016 reached $39.1 million, representing a 9% increase over the prior quarter and operating expenses were $22.3 million, a decrease of 3% over the prior quarter. Bar Harbor Bankshares, the parent com- pany of Bar Harbor Bank & Trust, an- nounced net income of $4.3 million for the second quarter of 2016, represent- ing an increase of $438 thousand or 11.3%, compared with the second quar- ter of 2015. The company also reported diluted earnings per share of 71 cents for the quarter, representing an increase of 7 cents, or 10.9%, compared with the second quarter of 2015. The company's annualized return on average sharehold- ers' equity amounted to 10.72% for the quarter, up from 10.31% in the second quarter of 2015 and its second quarter return on average assets amounted to 1.05%, up from 1.01% in the second quarter of 2015. Most of this downtown Bangor block could be yours e majority of a block in downtown Bangor could be yours for $1.95 mil- lion. e Bangor Daily News reported that six interconnected buildings on Exchange Street between the inter- sections of State and York streets are being sold by Eaton W. Tarbell Jr., the son of a Bangor architect who died in 1992. According to the BDN, the block includes the former headquarters of Bangor Hydro Electric Co. e block has been largely vacant for over a decade. e BDN reported that altogether, the half-dozen buildings were assessed by the city to have a value of $1.72 million, while the land is assessed at $269,100. A re breaches the new normal for small business? According to a National Cyber Security Alliance study, 71% of cyber attacks target small businesses. Of those that experience a data breach, 60% will close within six months. Among the myriad costs tied to a data breach, reputation damage may be most insidious, lasting long after remediation and deterring customers from working with you. The right public relations partnership can help repair and mitigate damage. A proactive Call (207) 619-7350 today. Learn how a proactive public relations strategy can help sustain your business's vitality. Less than half of businesses survive a data breach. communications disicpline will foster goodwill among clients long before an incident, and timely and appropriate public communications can mean the difference between successful recovery and a closed sign. As a former bank security officer, Broadreach president and founder, Linda Varrell, has over 20 years of crisis communications expertise. She understands the ins and outs of corporate security. Call Broadreach to learn how a consistent and proactive public relations campaign can keep your business viable in the face of a crisis. C o-working venue offers programs for startups Venture Hall, a new startup and innovation initiative in Portland, will get more than $30,000 of in-kind investment from boutique Cloudport CoWorking MultiSpace, Venture Hall co-founder Jess Knox told Mainebiz. Knox, who also is behind Maine Startup & Create Week, said he is launching Venture Hall with another entrepreneur, Mike Sobol, whose LinkedIn profi le lists him as "working on building out the infrastructure to support Maine's startup ecosystem." Venture Hall, which will be a series of programs, events and classes focused on building high-growth or high-impact ventures, will reside inside Cloudport when both open in mid-August and host its events there. Cloudport is located in a former CycleMania at 63 Federal St. in Portland. Cloudport typically charges $125 or $200 per month depending on ameni- ties, though it's also possible to rent space on a daily basis. Venture Hall will be anchored by a three-month summer accelerator pro- gram. It will host its fi rst group of companies in 2017 and include mentors and companies from all over the world. Also, programs on corporate innovation and building the best founding teams will be held along with classes, speakers and events focused on skills and strategies needed to build large-scale solutions to important problems, according to Knox. Cloudport's in-kind investment includes free offi ce space, a number of mem- berships and use of its facility for events and trainings. "This allows Venture Hall to be very nimble with our programs and have the fl exibility to test many of our programs with substantially less capital," Knox wrote in response to questions emailed by Mainebiz. The majority of expenses are related to programs and instructors, Knox wrote, with expenses heavily weighted towards next summer's group of companies. Expenses for the fi rst 14 months will be around $500,000, Knox wrote. Funding is a mix of bootstrapping and fundraising. Knox said conversations and commitments are ongoing with corporate partners, friends and family. Venture Hall's advisory board includes Betsy Peters (LightSail Education), Kerem Durdag (entrepreneur-in-residence, Maine Technology Institute), Don Gooding (Gooding Growth LLC), Emily Madero (acting CEO at IdeaVillage), Sean Marsh (Point Judith Partners), Austin Barrett (T3 Advisors), Vinko Buble (entre- preneur/software engineer) and Chuck Goldman (formerly of Apple). — L o r i V a l i g r a N O R T H E R N & E A S T E R N

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