Summary - Funding Rounds

Founding Date

1868
Lake Sunapee Bank Group is a subsidiary of Bar Harbor Bankshares

Lake Sunapee Bank Group Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015

Revenue

2.7 m8.3 m8.5 m

Revenue growth, %

204%2%

Cost of goods sold

6.8 m6.9 m

Gross profit

1.5 m1.6 m

Gross profit Margin, %

18%19%

EBIT

41 m40.2 m

EBIT margin, %

492%475%

Pre tax profit

13.6 m12.6 m

Income tax expense

3.6 m3.6 m

Net Income

8.4 m10 m9 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016

Revenue

14.1 m16.3 m17.3 m17.2 m16.8 m16.9 m16.5 m17 m18.6 m17.9 m

Cost of goods sold

1.5 m1.6 m1.6 m1.7 m1.8 m1.7 m1.6 m1.9 m2 m1.9 m

Gross profit

12.6 m14.6 m15.7 m15.5 m15 m15.2 m14.8 m15.1 m16.7 m16 m

Gross profit Margin, %

89%90%91%90%89%90%90%89%89%89%

Sales and marketing expense

4.6 m6 m6.1 m6.3 m6 m6 m6.1 m6.2 m6.1 m6.4 m

General and administrative expense

1.1 m1.6 m1.4 m1.3 m1.6 m1.5 m1.5 m1.5 m1.5 m1.4 m

Operating expense total

9.5 m11.6 m11.7 m11.5 m11.4 m11.5 m11.8 m11.5 m13 m12.2 m

EBIT

8 m10.3 m10 m10.6 m10 m10 m10.4 m10.5 m10.8 m10.5 m

EBIT margin, %

56%63%57%62%60%59%63%61%58%59%

Pre tax profit

3 m3 m3.3 m4 m3.4 m3.5 m3.5 m

Income tax expense

415 k899 k994 k1.3 m1.1 m1.1 m905 k1 m1.1 m1.2 m

Net Income

2.6 m2.1 m2.3 m2.7 m2.3 m2.4 m2.1 m2.5 m2.4 m2.3 m

Lake Sunapee Bank Group Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015

Cash

33.6 m51.1 m42.6 m

Accounts Receivable

2.6 m2.6 m2.4 m

PP&E

23.8 m24.4 m

Goodwill

44.6 m44.6 m44.6 m

Total Assets

1.4 b1.5 b1.5 b

Short-term debt

20.6 m37.6 m37.6 m

Long-term debt

121.7 m141 m150 m

Total Debt

142.4 m178.6 m187.6 m

Additional Paid-in Capital

101 m86.6 m80.3 m

Retained Earnings

58.3 m63.9 m68.3 m

Total Equity

149.3 m139.8 m136.7 m

Debt to Equity Ratio

1 x1.3 x1.4 x

Debt to Assets Ratio

0.1 x0.1 x0.1 x

Financial Leverage

9.5 x10.8 x11.1 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016

Cash

22.4 m35.9 m43.7 m40 m45.8 m65.2 m41.9 m38.7 m54.6 m36.1 m

Goodwill

44.8 m45 m44.6 m44.6 m44.6 m44.6 m44.6 m44.6 m

Total Assets

1.2 b1.4 b1.5 b1.5 b1.5 b1.5 b1.5 b1.6 b1.6 b1.6 b

Accounts Payable

921.4 m1.1 b1.1 b1.1 b1.1 b1.1 b1.1 b1.1 b1.1 b1.1 b

Short-term debt

20.6 m20.6 m20.6 m20.6 m37.6 m37.6 m37.6 m36.9 m36.9 m36.9 m

Long-term debt

124.7 m156 m171 m161 m141 m146 m130 m203.4 m226.2 m202.2 m

Total Debt

145.4 m176.6 m191.6 m181.6 m178.6 m183.6 m167.6 m240.2 m263.1 m239.1 m

Total Liabilities

1.1 b1.3 b1.3 b1.3 b1.3 b1.4 b1.3 b1.4 b1.4 b1.4 b

Additional Paid-in Capital

84.9 m101 m101.3 m101.4 m86.6 m87.8 m88 m80.3 m80.4 m80.4 m

Retained Earnings

57.3 m59.4 m60.6 m62.2 m65.1 m66.4 m67.4 m69.6 m70.8 m72 m

Total Equity

131.6 m150.8 m152.8 m153.9 m141.4 m142.8 m144.2 m139.7 m141.4 m142.4 m

Financial Leverage

9.4 x9.5 x9.8 x9.6 x10.5 x10.6 x10.3 x11.2 x11.3 x11.1 x

Lake Sunapee Bank Group Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015

Net Income

8.4 m10 m9 m

Depreciation and Amortization

1.8 m1.7 m1.5 m

Accounts Receivable

2.6 m2.4 m

Accounts Payable

1.1 m

Cash From Operating Activities

20.5 m

Purchases of PP&E

(10.5 m)

Cash From Investing Activities

(1.9 m)

Dividends Paid

(316 k)

Cash From Financing Activities

(24.1 m)

Interest Paid

6.6 m

Income Taxes Paid

2.9 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015

Net Income

2.6 m2.1 m2.3 m2.7 m2.3 m4.7 m6.9 m

Depreciation and Amortization

1.2 m1.9 m

Accounts Payable

1.2 m

Cash From Operating Activities

5.6 m15.8 m

Cash From Investing Activities

6.5 m1.8 m

Dividends Paid

(40 k)(60 k)

Cash From Financing Activities

2 m(26.8 m)

Interest Paid

3.6 m5.3 m

Income Taxes Paid

965 k1.4 m
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