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Bar Harbor Bankshares Reports Third Quarter 2024 Results; Declares Dividend

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Bar Harbor Bankshares (NYSE American:BHB) reported third quarter 2024 GAAP and core net income of $12.1 million or $0.80 per diluted share, compared to $11.1 million or $0.73 per diluted share in Q3 2023. Key highlights include:

  • Return on assets of 1.20%
  • Core deposit growth of 18% annualized
  • Net interest margin of 3.15%
  • Non-accruing loans to total loans ratio of 0.23%
  • Wealth management related fee income growth of 17% year over year

The company declared a cash dividend of $0.30 per share, payable on December 13, 2024. Total assets remained steady at $4.0 billion, with consistent loan growth and increased deposits. The allowance for credit losses stood at $29.0 million. Total deposits increased to $3.3 billion, while senior borrowings decreased to $186.2 million.

Bar Harbor Bankshares (NYSE American:BHB) ha riportato un reddito netto GAAP e core del terzo trimestre 2024 di 12,1 milioni di dollari o 0,80 dollari per azione diluita, rispetto a 11,1 milioni di dollari o 0,73 dollari per azione diluita nel terzo trimestre 2023. I punti salienti includono:

  • Rendimento sugli attivi dell'1,20%
  • Crescita dei depositi core dell'18% annuo
  • Margine di interesse netto del 3,15%
  • Rapporto prestiti non in sofferenza su prestiti totali dello 0,23%
  • Crescita delle entrate da commissioni legate alla gestione patrimoniale del 17% su base annua

La società ha dichiarato un dividendo in contante di 0,30 dollari per azione, pagabile il 13 dicembre 2024. Gli attivi totali sono rimasti stabili a 4,0 miliardi di dollari, con una crescita costante dei prestiti e un aumento dei depositi. L'accantonamento per perdite su crediti ammontava a 29,0 milioni di dollari. I depositi totali sono aumentati a 3,3 miliardi di dollari, mentre i prestiti senior sono diminuiti a 186,2 milioni di dollari.

Bar Harbor Bankshares (NYSE American:BHB) reportó ingresos netos GAAP y core del tercer trimestre de 2024 de 12,1 millones de dólares o 0,80 dólares por acción diluida, en comparación con 11,1 millones de dólares o 0,73 dólares por acción diluida en el tercer trimestre de 2023. Los aspectos destacados incluyen:

  • Retorno sobre activos del 1,20%
  • Crecimiento de depósitos core del 18% anualizado
  • Margen de interés neto del 3,15%
  • Relación de préstamos no morosos sobre préstamos totales del 0,23%
  • Crecimiento de ingresos por comisiones de gestión de patrimonio del 17% año tras año

La empresa declaró un dividendo en efectivo de 0,30 dólares por acción, pagadero el 13 de diciembre de 2024. Los activos totales permanecieron estables en 4,0 mil millones de dólares, con un crecimiento consistente de préstamos y depósitos en aumento. La reserva para pérdidas crediticias era de 29,0 millones de dólares. Los depósitos totales aumentaron a 3,3 mil millones de dólares, mientras que los préstamos senior disminuyeron a 186,2 millones de dólares.

바 하버 은행주식회사 (NYSE American:BHB)는 2024년 3분기 GAAP 및 핵심 순이익이 1,210만 달러 혹은 희석 주당 0.80달러로 보고했으며, 이는 2023년 3분기의 1,110만 달러 또는 희석 주당 0.73달러와 비교됩니다. 주요 하이라이트는 다음과 같습니다:

  • 자산 수익률 1.20%
  • 연율 약 18%의 핵심 예금 증가
  • 순이자 마진 3.15%
  • 총 대출 대비 연체 대출 비율 0.23%
  • 자산 관리 관련 수수료 수입 17% 증가

회사는 주당 0.30달러의 현금 배당금을 선언했으며, 2024년 12월 13일에 지급될 예정입니다. 총 자산은 40억 달러로 안정적으로 유지되었으며, 대출 증가와 예금 증가가 지속되고 있습니다. 신용 손실에 대한 충당금은 2,900만 달러에 달했습니다. 총 예금은 33억 달러로 증가한 반면, 선순위 차입금은 1억 8620만 달러로 감소하였습니다.

Bar Harbor Bankshares (NYSE American:BHB) a rapporté un revenu net GAAP et core de 12,1 millions de dollars pour le troisième trimestre 2024 ou 0,80 dollars par action diluée, comparé à 11,1 millions de dollars ou 0,73 dollars par action diluée au T3 2023. Les points forts incluent :

  • Retour sur actifs de 1,20%
  • Croissance des dépôts principaux de 18 % annualisée
  • Marche d'intérêt net de 3,15 %
  • Ratio de prêts non en souffrance sur prêts totaux de 0,23%
  • Croissance des revenus liés aux frais de gestion de patrimoine de 17 % d'une année sur l'autre

L'entreprise a déclaré un dividende en espèces de 0,30 dollars par action, payable le 13 décembre 2024. Les actifs totaux sont restés stables à 4,0 milliards de dollars, avec une croissance des prêts constante et des dépôts en hausse. La provision pour pertes de crédit s'élevait à 29,0 millions de dollars. Les dépôts totaux ont augmenté pour atteindre 3,3 milliards de dollars, tandis que les emprunts seniors ont diminué à 186,2 millions de dollars.

Bar Harbor Bankshares (NYSE American:BHB) berichtete von einem GAAP- und Kernnettoeinkommen von 12,1 Millionen Dollar im dritten Quartal 2024 bzw. 0,80 Dollar pro verwässerter Aktie, was im Vergleich zu 11,1 Millionen Dollar oder 0,73 Dollar pro verwässerter Aktie im dritten Quartal 2023 steht. Zu den wichtigsten Punkten gehören:

  • Rendite auf Vermögenswerte von 1,20%
  • Kern-Einlagenwachstum von jährlich 18%
  • Nettozinsspanne von 3,15%
  • Verhältnis von nicht ausstehenden Krediten zu Gesamtkrediten von 0,23%
  • Wachstum der Gebühreneinnahmen aus Vermögensverwaltung von 17% im Jahresvergleich

Das Unternehmen erklärte eine Bardividende von 0,30 Dollar pro Aktie, die am 13. Dezember 2024 zahlbar ist. Die Gesamtaktiva blieben stabil bei 4,0 Milliarden Dollar, mit einem konstanten Wachstum der Kredite und erhöhten Einlagen. Die Rückstellungen für Kreditverluste beliefen sich auf 29,0 Millionen Dollar. Die Gesamteinlagen stiegen auf 3,3 Milliarden Dollar, während die vorrangigen Kredite auf 186,2 Millionen Dollar sanken.

Positive
  • Third quarter 2024 net income increased to $12.1 million from $11.1 million in Q3 2023
  • Core deposit growth of 18% annualized
  • Wealth management related fee income growth of 17% year over year
  • Total deposits increased by $120.6 million to $3.3 billion
  • Assets under management grew 20% to $2.8 billion from $2.3 billion in Q3 2023
Negative
  • Net interest margin slightly decreased to 3.15% from 3.18% in Q3 2023
  • Total interest expense increased by 23% to $19.6 million compared to Q3 2023
  • Non-interest expense increased to $24.8 million from $22.8 million in Q3 2023

Insights

Bar Harbor Bankshares reported solid Q3 2024 results, with GAAP and core net income of $12.1 million ($0.80 per diluted share), up from $11.1 million ($0.73 per diluted share) in Q3 2023. Key highlights include:

  • Return on assets of 1.20%
  • Core deposit growth of 18% annualized
  • Net interest margin of 3.15%
  • Non-accruing loans to total loans ratio of 0.23%
  • Wealth management fee income growth of 17% year-over-year

The bank's performance demonstrates resilience in a challenging interest rate environment. Notable strengths include disciplined growth in core deposits, efficient management of funding costs and strong performance in wealth management. The 3.89% annualized dividend yield is attractive for income-focused investors. However, the slight decrease in net interest margin from 3.18% to 3.15% year-over-year warrants monitoring, as it reflects pressure from higher deposit costs.

Bar Harbor Bankshares' Q3 results reveal several positive trends for investors:

  • Deposit growth: 18% annualized core deposit growth showcases the bank's ability to attract and retain customers, particularly noteworthy given the competitive banking landscape.
  • Wealth management: The 17% year-over-year growth in wealth management fee income and 20% growth in assets under management to $2.8 billion highlight a diversified revenue stream less sensitive to interest rate fluctuations.
  • Credit quality: The low non-accruing loans ratio of 0.23% and decreased total delinquent and non-accruing loans (0.33% vs. 0.39% year-over-year) indicate strong asset quality and risk management.

These factors contribute to the bank's resilience and potential for sustained performance. However, investors should monitor the impact of the competitive deposit pricing environment on the bank's net interest margin and overall profitability.

BAR HARBOR, ME / ACCESSWIRE / October 22, 2024 / Bar Harbor Bankshares (NYSE American:BHB) (the "Company") reported third quarter 2024 GAAP and core (Non-GAAP) net income of $12.1 million or $0.80 per diluted share compared to GAAP and core (Non-GAAP) net income of $11.1 million or $0.73 per diluted share in the same quarter of 2023.

THIRD QUARTER 2024 HIGHLIGHTS

  • Return on assets of 1.20%

  • Core deposit growth of 18% annualized

  • Net interest margin of 3.15%

  • Non-accruing loans to total loans ratio of 0.23%

  • Wealth management related fee income growth of 17% year over year

Bar Harbor Bankshares' President and Chief Executive Officer, Curtis C. Simard, stated, "Our teams continue to deliver consistent and resilient performance despite the many perspectives argued in the interest rate environment. Disciplined calling and focus on advancing market shares has guided our efforts regardless of the macroeconomic environment uncertainty. Even after backing out the one-time tax benefit described below, the earnings growth reported in the third quarter came in at a strong 8%.

As to fundamentals, we achieved an influx of core deposits which is somewhat typical for the summer months given our footprint, but is accentuated by our retail teams originating 1,554 accounts to new customers. This allowed us to more efficiently manage our total funding costs helping to expand the margin in the face of shifting customer expectations with regard to loan yield direction. Our established presence in wealth management has remained an intrinsic part of earnings consistency with wealth fee income up 17% year over year. In summary, the longstanding commitment to balancing growth with earnings has proven a sound foundation given ever-present changes throughout the industry and future economic sentiment. The level of teamwork in an unwavering culture combined with equal dedication to risk management will continue to drive our success for the remainder of the year."

DIVIDEND DECLARED

The Board of Directors of the Company voted to declare a cash dividend of $0.30 per share to shareholders of record at the close of business on November 14, 2024 payable on December 13, 2024. This dividend equates to a 3.89% annualized yield based on the $30.84 closing share price of the Company's common stock on September 30, 2024, the last trading day of the third quarter 2024.

FINANCIAL CONDITION (September 30, 2024 compared to June 30, 2024)

Total assets remained steady at $4.0 billion at the end of the third quarter 2024 compared to the second quarter 2024 primarily due to consistent loan growth, increased deposits and securities available for sale offset by lower borrowings and cash at the end of the third quarter.

Total cash and cash equivalents were $81.2 million at the third quarter 2024, compared to $101.8 million at end of the second quarter 2024. Interest-earning deposits held with other banks totaled $41.3 million at the third quarter 2024, compared to $62.2 million at end of the second quarter and yielded 5.54% and 5.65%, respectively. The change in cash balances was driven by utilization for loan originations and security purchases.

Total loans grew $17.6 million or 2% on an annualized basis. Commercial loans grew 1% primarily driven by a $42.7 million, or 10% annualized increase in commercial real estate partially offset by a $38.7 million, or 37% annualized, decrease in commercial and industrial loans driven by pay downs, payoffs and a mix shift to tax exempt and other. Residential real estate decreased by $18.2 million, or 8% annualized, compared to the second quarter 2024, as we focus on growing the portfolio with higher yielding commercial loans. Consumer loans increased $3.7 million, or 15% annualized, driven by continued growth in home equity line originations and drawdowns on established lines in the third quarter 2024.

Securities available for sale increased to $535.9 million compared to $512.9 million in the second quarter 2024 driven by $16.4 million in purchases partially offset by pay downs of $10.4 million, net amortization of $418 thousand, and matured and called securities of $96 thousand. Federal Home Loan Bank ("FHLB") stock decreased to $7.6 million in the third quarter 2024 compared to $14.8 million in the second quarter 2024 driven by $120.5 million in pay downs of FHLB borrowings. Fair value adjustments decreased the security portfolio by $52.3 million at the end of the third quarter compared to $68.5 million at the end of the second quarter. The weighted average yield of the total securities portfolio for the third quarter 2024 was 3.96% compared to 4.00% at the end of the previous quarter primarily due to the interest rate environment and change in the profile of the yield curve. As of the end of the second and third quarters 2024, respectively, our securities portfolio maintained an average life of nine and eight years with an effective duration of five years for both quarters and all securities remain classified as available for sale to provide flexibility in asset funding and other opportunities as they arise.

The allowance for credit losses continued to build, standing at $29.0 million at the end of the third quarter 2024 compared to $28.9 million at the end of the second quarter 2024. Our allowance for credit losses continues to be driven by a combination of portfolio loan growth, nominal credit movement and general macroeconomic trends. Non-accruing loans increased during the third quarter 2024 to $7.1 million from $6.3 million in the second quarter 2024 driven by commercial real estate and consumer installment changes partially offset by commercial installment and residential real estate decreases. The increase in non-accruing loans was centered in one well-secured owner-occupied CRE credit ($759 thousand) that is carrying no associated specific reserve after being reviewed for impairment. Total non-accruing loans to total loans was 0.23% in the third quarter compared to 0.20% in the second quarter 2024 which remains below peer group medians and averages. Charge-offs and specific reserves on non-accruing loans continue to be nominal, supported by relatively strong collateral values.

Total deposits increased $120.6 million to $3.3 billion in the third quarter 2024 from $3.1 billion at the second quarter 2024. Non-maturity deposits increased 15% on an annualized basis, or $104.4 million, to $2.4 billion driven by a $51.9 million increase in non-interest bearing demand, a $31.8 million increase in interest-bearing demand, and a $21.4 million increase in money market balances. Average yields on interest-bearing deposits increased 10 points to 2.45%.

Senior borrowings decreased $143.1 million to $186.2 million from the second quarter 2024 driven by increased deposits and cash balances available to fund loan growth and investment purchases. FHLB borrowings decreased $120.5 million to $133.8 million at the end of the third quarter 2024 compared to $254.3 million at the end of the second quarter 2024. Borrowings under the Federal Reserve's Bank Term Funding Program decreased $20.0 million to $45 million at the end of the third quarter 2024 compared to $65 million at the end of the second quarter 2024. Total borrowing costs decreased from 4.57% at the end of the second quarter 2024 to 4.38% at the end of the third quarter 2024.

The Company's book value per share was $30.12 as of September 30, 2024 compared to $28.81 as of June 30, 2024. Tangible book value per share (non-GAAP) was $22.02 at the end of the third quarter 2024, compared to $20.68 at the end of the second quarter 2024.

RESULTS OF OPERATIONS (September 30, 2024 compared to September 30, 2023)

The net interest margin was 3.15% in the third quarter 2024 compared to 3.18% in the third quarter 2023. The decrease was primarily driven by 42% higher cost of funds driven by the interest rate environment and growth in deposits, partially offset by lower borrowing balances and costs. The yield on loans grew 52 basis points to 5.54% in the third quarter 2024, up from 5.02% in the same quarter 2023. Costs of interest-bearing deposits grew 64 basis points to 2.45% from 1.81% in the third quarter 2023 driven by the continued competitive pricing within the interest rate environment.

Total interest and dividend income increased by 9.5% to $48.6 million in the third quarter 2024 primarily driven by the repricing of adjustable-rate loans and originations of higher fixed-rate loans within the commercial portfolio. The yield on commercial real estate loans grew to 5.67% in the third quarter 2024 from 5.34% in the third quarter 2023. Commercial and industrial yield grew to 6.98% in the third quarter 2024 compared to 6.56% in the third quarter 2023. Yields on earning assets grew to 5.24% compared to 4.90% in the third quarter 2023.

Total interest expense increased by 23% to $19.6 million in the third quarter 2024 compared to $15.9 million in the third quarter 2023 driven by an increase in cost of funds compounded with a $120.6 million increase in deposits and a shift in the mix of deposits from non-maturity deposits to time deposits. Non-maturity deposits decreased $38.2 million and time deposits increased $158.9 million in 2024 compared to the third quarter 2023. Borrowings decreased $120.9 million from the third quarter 2023 with a 21 basis point decrease in yields to 4.38% in the third quarter 2024.

The provision for credit losses was $228 thousand compared to $673 thousand in the third quarter 2023 as net charge-offs remain stable and minimal and credit quality continues to remain strong. Total accruing delinquent loans were down to 0.10% in the third quarter of 2024 from 0.16% in the third quarter 2023 and total delinquent and non-accruing loans were down to 0.33% from 0.39%. Total non-accruing loans to total loans remains flat year over year at 0.23%.

Non-interest income was $9.7 million in the third quarter 2024 compared to $8.6 million in the same quarter 2023. Wealth management income grew 17.2% to $4.1 million compared to $3.5 million in the third quarter 2023. Assets under management grew 20% to $2.8 billion from $2.3 billion in the third quarter 2023 driven by higher security valuations and an 8% growth in the managed accounts. Mortgage banking income increased $266 thousand compared to the third quarter 2023 driven by increased margins on our held-for-sale mortgage business.

Non-interest expense was $24.8 million in the third quarter 2024 compared to $22.8 million in the third quarter 2023 driven by salary and benefits, and other expenses. Salary and benefit expenses increased 10.5%, or $1.4 million, from the third quarter 2023 driven in part by stock compensation due to a $7.21 per share increase in stock price and a lower discount on postretirement liabilities year over year. Other expenses increased to $4.2 million from $3.7 million in the third quarter 2023 primarily due to increases in media relations and corporate press releases, software expenses, and debit and ATM card expenses.

Income tax expense for the third quarter 2024 was $1.4 million compared to $3.2 million in the third quarter 2023. The decrease in taxes represents a one-time multiple year tax refund on tax exempt loan income and a state apportionment adjustment. Excluding one-time charges, our effective tax rate for the period ended September 30, 2024 was consistent with the prior year.

BACKGROUND

Bar Harbor Bankshares (NYSE American:BHB) is the parent company of its wholly-owned subsidiary, Bar Harbor Bank & Trust. Founded in 1887, Bar Harbor Bank & Trust is a true community bank serving the financial needs of its clients for over 135 years. Bar Harbor Bank & Trust provides full-service community banking with office locations in all three Northern New England states of Maine, New Hampshire and Vermont. For more information, visit www.barharbor.bank.

FORWARD-LOOKING STATEMENTS

All statements, other than statements of historical fact, included in this release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. When used in this release the words "believe," "anticipate," "expect," "may," "will," "assume," "should," "predict," "could," "would," "intend," "targets," "estimates," "projects," "plans," and "potential," and other similar words and expressions of the future, are intended to identify such forward-looking statements, but other statements not based on historical information may also be considered forward-looking, including statements relating to Company's balance sheet management, our credit trends, our overall credit performance, and the Company's strategic plans, objectives, and intentions. All forward-looking statements are subject to risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of the Company to differ materially from any results, performance, or achievements expressed or implied by such forward-looking statements. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from the statements, including, but not limited to: (1) changes in general business and economic conditions on a national basis and in our markets throughout Northern New England; (2) changes in consumer behavior due to political, business, and economic conditions, including inflation and concerns about liquidity; (3) the possibility that our asset quality could decline or that we experience greater loan losses than anticipated; (4) the impact of liquidity needs on our results of operations and financial condition; (5) changes in the size and nature of our competition; (6) the effect of interest rate increases on the cost of deposits; (7) unanticipated weakness in loan demand, pricing or collectability; (8) the possibility that future credit losses are higher than currently expected due to changes in economic assumptions or adverse economic developments; (9) operational risks including, but not limited to, changes in information technology, cybersecurity incidents, fraud, natural disasters, climate change, war, terrorism, civil unrest, and future pandemics; (10) lack of strategic growth opportunities or our failure to execute on available opportunities; (11) our ability to effectively manage problem credits; (12) our ability to successfully develop new products and implement efficiency initiatives on time and with the results projected; (13) our ability to retain executive officers and key employees and their customer and community relationships; (14) regulatory, litigation, and reputational risks and the applicability of insurance coverage; (15) changes in the reliability of our vendors, internal control systems or information systems; (16) the potential impact of climate change; (17) changes in legislation or regulation and accounting principles, policies, and guidelines; (18) reductions in the market value or outflows of wealth management assets under management; and (19) changes in the assumptions used in making such forward-looking statements. Additional factors which could affect the forward-looking statements can be found in the Company's annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K filed with the Securities and Exchange Commission (the "SEC") and available on the SEC's website at http://www.sec.gov. The Company believes the forward-looking statements contained herein are reasonable; however, many of such risks, uncertainties, and other factors are beyond the Company's ability to control or predict and undue reliance should not be placed on any forward-looking statements, which are based on current expectations and speak only as of the date that they are made. Therefore, the Company can give no assurance that its future results will be as estimated. The Company does not intend to, and disclaims any obligation to, update or revise any forward-looking statement.

NON-GAAP FINANCIAL MEASURES

This document contains certain non-GAAP financial measures in addition to results presented in accordance with accounting principles generally accepted in the United States of America ("GAAP"). These non-GAAP measures are intended to provide the reader with additional supplemental perspectives on operating results, performance trends, and financial condition. Non-GAAP financial measures are not a substitute for GAAP measures; they should be read and used in conjunction with the Company's GAAP financial information. Because non-GAAP financial measures presented in this document are not measurements determined in accordance with GAAP and are susceptible to varying calculations, these non-GAAP financial measures, as presented, may not be comparable to other similarly titled measures presented by other companies. A reconciliation of non-GAAP financial measures to GAAP measures is provided below. In all cases, it should be understood that non-GAAP measures do not depict amounts that accrue directly to the benefit of shareholders. An item which management excludes when computing non-GAAP core earnings can be of substantial importance to the Company's results for any particular quarter or year. Each non-GAAP measure used by the Company in this report as supplemental financial data should be considered in conjunction with the Company's GAAP financial information.

The Company utilizes the non-GAAP measure of core earnings in evaluating operating trends, including components for core revenue and expense. These measures exclude amounts which the Company views as unrelated to its normalized operations, including gains/losses on securities, premises, equipment and other real estate owned, acquisition costs, restructuring costs, legal settlements, and systems conversion costs. Non-GAAP adjustments are presented net of an adjustment for income tax expense.

The Company also calculates core earnings per share based on its measure of core earnings. The Company views these amounts as important to understanding its operating trends, particularly due to the impact of accounting standards related to acquisition activity. Analysts also rely on these measures in estimating and evaluating the Company's performance. Management also believes that the computation of non-GAAP core earnings and core earnings per share may facilitate the comparison of the Company to other companies in the financial services industry. The Company also adjusts certain equity related measures to exclude intangible assets due to the importance of these measures to the investment community.

###

CONTACTS

Josephine Iannelli; EVP, Chief Financial Officer & Treasurer; (207) 288-3314

TABLE

INDEX

CONSOLIDATED FINANCIAL SCHEDULES (UNAUDITED)

A

Selected Financial Highlights

B

Balance Sheets

C

Loan and Deposit Analysis

D

Statements of Income

E

Statements of Income (Five Quarter Trend)

F

Average Yields and Costs

G

Average Balances

H

Asset Quality Analysis

I-J

Reconciliation of Non-GAAP Financial Measures (Five Quarter Trend) and Supplementary Data

BAR HARBOR BANKSHARES
SELECTED FINANCIAL HIGHLIGHTS - UNAUDITED

At or for the Quarters Ended

Sep 30,

Jun 30,

Mar 31,

Dec 31,

Sep 30,

2024

2024

2024

2023

2023

PER SHARE DATA

Net earnings, diluted

$

0.80

$

0.67

$

0.66

$

0.65

$

0.73

Core earnings, diluted (1)

0.80

0.66

0.66

0.68

0.73

Total book value

30.12

28.81

28.64

28.48

26.67

Tangible book value (1)

22.02

20.68

20.48

20.28

18.45

Market price at period end

30.84

26.88

26.48

29.36

23.63

Dividends

0.30

0.30

0.28

0.28

0.28

PERFORMANCE RATIOS (2)

Return on assets

1.20

%

1.04

%

1.03

%

1.00

%

1.11

%

Core return on assets (1)

1.20

1.02

1.03

1.04

1.11

Pre-tax, pre-provision return on assets

1.37

1.36

1.32

1.34

1.49

Core pre-tax, pre-provision return on assets (1)

1.37

1.33

1.32

1.39

1.49

Return on equity

10.68

9.46

9.32

9.43

10.72

Core return on equity (1)

10.68

9.25

9.32

9.82

10.72

Return on tangible equity

14.90

13.44

13.26

13.65

15.65

Core return on tangible equity (1)

14.90

13.15

13.27

14.21

15.65

Net interest margin, fully taxable equivalent (1) (3)

3.15

3.09

3.14

3.17

3.18

Efficiency ratio (1)

62.09

62.78

62.71

61.22

58.37

FINANCIAL DATA (In millions)

Total assets

$

4,030

$

4,034

$

3,959

$

3,971

$

3,984

Total earning assets (4)

3,720

3,726

3,663

3,664

3,687

Total investments

543

528

538

547

524

Total loans

3,082

3,064

3,012

2,999

2,993

Allowance for credit losses

29

29

28

28

28

Total goodwill and intangible assets

124

124

124

124

125

Total deposits

3,261

3,140

3,127

3,141

3,140

Total shareholders' equity

460

439

436

432

404

Net income

12

10

10

10

11

Core earnings (1)

12

10

10

10

11

ASSET QUALITY AND CONDITION RATIOS

Net charge-offs (recoveries)(5)/average loans

0.01

%

0.01

%

0.01

%

0.07

%

-

%

Allowance for credit losses/total loans

0.94

0.94

0.94

0.94

0.94

Loans/deposits

95

98

96

95

95

Shareholders' equity to total assets

11.41

10.88

11.01

10.88

10.15

Tangible shareholders' equity to tangible assets

8.61

8.06

8.13

8.00

7.25

(1) Non-GAAP financial measure. Refer to the Reconciliation of Non-GAAP Financial Measures in tables I-J for additional information.
(2) All performance ratios are based on average balance sheet amounts, where applicable.
(3) Fully taxable equivalent considers the impact of tax-advantaged investment securities and loans.
(4) Earning assets includes non-accruing loans and interest-bearing deposits with other banks. Securities are valued at amortized cost.
(5) Current quarter annualized.

BAR HARBOR BANKSHARES
CONSOLIDATED BALANCE SHEETS - UNAUDITED

Sep 30,

Jun 30,

Mar 31,

Dec 31,

Sep 30,

(in thousands)

2024

2024

2024

2023

2023

Assets

Cash and due from banks

$

39,877

$

39,673

$

30,770

$

42,221

$

41,210

Interest-earning deposits with other banks

41,343

62,163

45,449

52,621

81,606

Total cash and cash equivalents

81,220

101,836

76,219

94,842

122,816

Securities available for sale

535,892

512,928

527,603

534,574

509,453

Federal Home Loan Bank stock

7,600

14,755

9,960

12,788

14,834

Total securities

543,492

527,683

537,563

547,362

524,287

Loans held for sale

1,272

3,897

3,137

2,189

2,016

Total loans

3,081,735

3,064,181

3,011,672

2,999,049

2,992,791

Less: Allowance for credit losses

(29,023

)

(28,855

)

(28,355

)

(28,142

)

(28,011

)

Net loans

3,052,712

3,035,326

2,983,317

2,970,907

2,964,780

Premises and equipment, net

51,644

51,628

47,849

48,287

47,790

Other real estate owned

-

-

-

-

-

Goodwill

119,477

119,477

119,477

119,477

119,477

Other intangible assets

4,171

4,404

4,637

4,869

5,102

Cash surrender value of bank-owned life insurance

81,824

81,221

80,642

80,037

79,469

Deferred tax asset, net

20,923

24,750

23,849

22,979

28,328

Other assets

73,192

83,978

82,285

79,936

89,876

Total assets

$

4,029,927

$

4,034,200

$

3,958,975

$

3,970,885

$

3,983,941

Liabilities and shareholders' equity

Non-interest bearing demand

$

604,963

$

553,067

$

544,495

$

569,714

$

618,421

Interest-bearing demand

913,910

882,068

888,591

946,978

929,481

Savings

544,235

544,980

551,493

553,963

572,271

Money market

380,624

359,208

365,289

370,242

361,839

Time

817,354

801,143

777,208

700,260

658,482

Total deposits

3,261,086

3,140,466

3,127,076

3,141,157

3,140,494

Senior borrowings

186,207

329,349

269,437

271,044

307,070

Subordinated borrowings

60,580

60,541

60,501

60,461

60,422

Total borrowings

246,787

389,890

329,938

331,505

367,492

Other liabilities

62,138

64,937

66,247

66,164

71,747

Total liabilities

3,570,011

3,595,293

3,523,261

3,538,826

3,579,733

Total shareholders' equity

459,916

438,907

435,714

432,059

404,208

Total liabilities and shareholders' equity

$

4,029,927

$

4,034,200

$

3,958,975

$

3,970,885

$

3,983,941

Net shares outstanding

15,268

15,232

15,212

15,172

15,156

BAR HARBOR BANKSHARES
CONSOLIDATED LOAN & DEPOSIT ANALYSIS - UNAUDITED

LOAN ANALYSIS

Annualized

Growth %

Sep 30,

Jun 30,

Mar 31,

Dec 31,

Sep 30,

Quarter

Year

(in thousands)

2024

2024

2024

2023

2023

to Date

to Date

Commercial real estate

$

1,677,310

$

1,634,658

$

1,574,802

$

1,552,061

$

1,548,835

10

%

11

%

Commercial and industrial

382,554

421,297

412,567

400,169

391,347

(37

)

(6

)

Total commercial loans

2,059,864

2,055,955

1,987,369

1,952,230

1,940,182

1

7

Residential real estate

836,566

854,718

873,213

889,904

896,757

(8

)

(8

)

Consumer

103,415

99,776

95,838

97,001

95,160

15

9

Tax exempt and other

81,890

53,732

55,252

59,914

60,692

*

49

Total loans

$

3,081,735

$

3,064,181

$

3,011,672

$

2,999,049

$

2,992,791

2

%

4

%

*Indicates ratio greater than 100%

DEPOSIT ANALYSIS

Annualized

Growth %

Sep 30,

Jun 30,

Mar 31,

Dec 31,

Sep 30,

Quarter

Year

(in thousands)

2024

2024

2024

2023

2023

to Date

to Date

Non-interest bearing demand

$

604,963

$

553,067

$

544,495

$

569,714

$

618,421

38

%

8

%

Interest-bearing demand

913,910

882,068

888,591

946,978

929,481

14

(5

)

Savings

544,235

544,980

551,493

553,963

572,271

(1

)

(2

)

Money market

380,624

359,208

365,289

370,242

361,839

24

4

Total non-maturity deposits

2,443,732

2,339,323

2,349,868

2,440,897

2,482,012

18

-

Time

817,354

801,143

777,208

700,260

658,482

8

22

Total deposits

$

3,261,086

$

3,140,466

$

3,127,076

$

3,141,157

$

3,140,494

15

%

5

%

BAR HARBOR BANKSHARES
CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED

Three Months Ended

Nine Months Ended

September 30,

September 30,

(in thousands, except per share data)

2024

2023

2024

2023

Interest and dividend income

Loans

$

42,042

$

38,412

$

122,146

$

109,889

Securities and other

6,538

6,723

19,095

18,478

Total interest and dividend income

48,580

45,135

141,241

128,367

Interest expense

Deposits

16,174

11,415

45,486

25,270

Borrowings

3,448

4,534

10,983

14,215

Total interest expense

19,622

15,949

56,469

39,485

Net interest income

28,958

29,186

84,772

88,882

Provision for credit losses

228

673

1,102

2,221

Net interest income after provision for credit losses

28,730

28,513

83,670

86,661

Non-interest income

Trust and investment management fee income

4,129

3,522

11,992

10,882

Customer service fees

3,788

3,926

11,235

11,377

Gain on sales of securities, net

-

-

50

34

Mortgage banking income

681

415

1,496

1,072

Bank-owned life insurance income

570

515

1,714

2,166

Customer derivative income

265

43

433

258

Other income

220

186

576

588

Total non-interest income

9,653

8,607

27,496

26,377

Non-interest expense

Salaries and employee benefits

14,383

13,011

41,491

39,005

Occupancy and equipment

4,453

4,469

13,308

13,275

Gain on sales of premises and equipment, net

-

-

(263

)

(99

)

Outside services

386

376

1,186

1,156

Professional services

441

436

1,079

1,217

Communication

189

170

570

507

Marketing

434

326

1,522

1,211

Amortization of intangible assets

233

233

699

699

Acquisition, conversion and other expenses

-

-

20

20

Provision for unfunded commitments

35

45

(150

)

(85

)

Other expenses

4,218

3,742

12,640

11,604

Total non-interest expense

24,772

22,808

72,102

68,510

Income before income taxes

13,611

14,312

39,064

44,528

Income tax expense

1,418

3,208

6,519

9,621

Net income

$

12,193

$

11,104

$

32,545

$

34,907

Earnings per share:

Basic

$

0.80

$

0.73

$

2.14

$

2.31

Diluted

0.80

0.73

2.13

2.30

Weighted average shares outstanding:

Basic

15,261

15,155

15,229

15,135

Diluted

15,326

15,196

15,292

15,189

BAR HARBOR BANKSHARES
CONSOLIDATED STATEMENTS OF INCOME (5 Quarter Trend) - UNAUDITED

Sep 30,

Jun 30,

Mar 31,

Dec 31,

Sep 30,

(in thousands, except per share data)

2024

2024

2024

2023

2023

Interest and dividend income

Loans

$

42,042

$

40,634

$

39,470

$

39,531

$

38,412

Securities and other

6,538

6,204

6,353

6,284

6,723

Total interest and dividend income

48,580

46,838

45,823

45,815

45,135

Interest expense

Deposits

16,174

14,780

14,532

12,962

11,415

Borrowings

3,448

4,299

3,236

4,060

4,534

Total interest expense

19,622

19,079

17,768

17,022

15,949

Net interest income

28,958

27,759

28,055

28,793

29,186

Provision for credit losses

228

585

289

687

673

Net interest income after provision for credit losses

28,730

27,174

27,766

28,106

28,513

Non-interest income

Trust and investment management fee income

4,129

4,193

3,670

3,401

3,522

Customer service fees

3,788

3,737

3,710

3,791

3,926

Gain on sales of securities, net

-

50

-

-

-

Mortgage banking income

681

558

257

515

415

Bank-owned life insurance income

570

583

561

533

515

Customer derivative income

265

168

-

151

43

Other income

220

168

188

305

186

Total non-interest income

9,653

9,457

8,386

8,696

8,607

Non-interest expense

Salaries and employee benefits

14,383

13,860

13,248

13,511

13,011

Occupancy and equipment

4,453

4,382

4,473

4,309

4,469

(Gain) loss on sales of premises and equipment, net

-

(248

)

(15

)

281

-

Outside services

386

462

338

515

376

Professional services

441

238

400

369

436

Communication

189

192

189

190

170

Marketing

434

521

567

485

326

Amortization of intangible assets

233

233

233

233

233

Acquisition, conversion and other expenses

-

-

20

263

-

Provision for unfunded commitments

35

-

(185

)

-

45

Other expenses

4,218

4,202

4,220

4,057

3,742

Total non-interest expense

24,772

23,842

23,488

24,213

22,808

Income before income taxes

13,611

12,789

12,664

12,589

14,312

Income tax expense

1,418

2,532

2,569

2,644

3,208

Net income

$

12,193

$

10,257

$

10,095

$

9,945

$

11,104

Earnings per share:

Basic

$

0.80

$

0.67

$

0.66

$

0.66

$

0.73

Diluted

0.80

0.67

0.66

0.65

0.73

Weighted average shares outstanding:

Basic

15,261

15,227

15,198

15,164

15,155

Diluted

15,326

15,275

15,270

15,221

15,196

BAR HARBOR BANKSHARES
AVERAGE YIELDS AND COSTS (Fully Taxable Equivalent (Non-GAAP) - Annualized) - UNAUDITED

Quarters Ended

Sep 30,

Jun 30,

Mar 31,

Dec 31,

Sep 30,

2024

2024

2024

2023

2023

Earning assets

Interest-earning deposits with other banks

5.54

%

5.65

%

5.88

%

6.42

%

5.02

%

Securities available for sale and FHLB stock

3.96

4.00

4.02

3.85

3.87

Loans:

Commercial real estate

5.67

5.61

5.47

5.46

5.34

Commercial and industrial

6.98

6.76

6.68

6.66

6.56

Residential real estate

4.11

4.13

4.09

3.94

3.84

Consumer

7.23

7.26

7.22

7.14

6.88

Total loans

5.49

5.41

5.31

5.24

5.11

Total earning assets

5.24

%

5.18

%

5.10

%

5.02

%

4.90

%

Funding liabilities

Deposits:

Interest-bearing demand

1.48

%

1.39

%

1.34

%

1.33

%

1.11

%

Savings

0.70

0.65

0.63

0.48

0.42

Money market

3.13

2.93

3.07

2.80

2.55

Time

4.39

4.33

4.18

3.93

3.65

Total interest-bearing deposits

2.45

2.35

2.26

2.05

1.81

Borrowings

4.38

4.57

4.35

4.64

4.59

Total interest-bearing liabilities

2.66

%

2.64

%

2.48

%

2.37

%

2.19

%

Net interest spread

2.58

2.54

2.62

2.65

2.71

Net interest margin, fully taxable equivalent(1)

3.15

3.09

3.14

3.17

3.18

(1) Non-GAAP financial measure. Refer to the Reconciliation of Non-GAAP Financial Measures in tables I-J for additional information.

BAR HARBOR BANKSHARES
AVERAGE BALANCES - UNAUDITED

Quarters Ended

Sep 30,

Jun 30,

Mar 31,

Dec 31,

Sep 30,

(in thousands)

2024

2024

2024

2023

2023

Assets

Interest-earning deposits with other banks (1)

$

54,897

$

27,407

$

36,608

$

36,794

$

70,499

Securities available for sale and FHLB stock (2)

601,489

606,779

604,658

608,793

620,851

Loans:

Commercial real estate

1,645,933

1,600,253

1,558,506

1,554,961

1,550,188

Commercial and industrial

473,049

468,052

464,762

457,642

439,915

Residential real estate

851,426

865,412

884,767

898,147

909,296

Consumer

101,230

97,371

96,163

95,193

96,362

Total loans (3)

3,071,638

3,031,088

3,004,198

3,005,943

2,995,761

Total earning assets

3,728,024

3,665,274

3,645,464

3,651,530

3,687,111

Cash and due from banks

34,036

30,809

29,900

34,741

36,713

Allowance for credit losses

(28,893

)

(28,567

)

(28,122

)

(28,057

)

(27,473

)

Goodwill and other intangible assets

123,761

123,994

124,225

124,459

124,926

Other assets

170,113

168,239

166,538

157,159

162,801

Total assets

$

4,027,041

$

3,959,749

$

3,938,005

$

3,939,832

$

3,984,078

Liabilities and shareholders' equity

Deposits:

Interest-bearing demand

$

888,325

$

858,657

$

899,349

$

916,314

$

915,072

Savings

547,482

542,950

552,231

552,932

579,090

Money market

378,855

355,731

390,720

365,142

358,742

Time

807,180

775,932

738,683

670,628

645,285

Total interest-bearing deposits

2,621,842

2,533,270

2,580,983

2,505,016

2,498,189

Borrowings

312,891

378,121

298,918

347,459

391,976

Total interest-bearing liabilities

2,934,733

2,911,391

2,879,901

2,852,475

2,890,165

Non-interest bearing demand deposits

577,428

546,448

554,816

604,638

610,644

Other liabilities

60,731

65,712

67,327

64,092

72,409

Total liabilities

3,572,892

3,523,551

3,502,044

3,521,205

3,573,218

Total shareholders' equity

454,149

436,198

435,961

418,627

410,860

Total liabilities and shareholders' equity

$

4,027,041

$

3,959,749

$

3,938,005

$

3,939,832

$

3,984,078

(1) Total average interest-bearing deposits with other banks is net of Federal Reserve daily cash letter.
(2) Average balances for securities available-for-sale are based on amortized cost.
(3)Total average loans include non-accruing loans and loans held for sale.

BAR HARBOR BANKSHARES
ASSET QUALITY ANALYSIS - UNAUDITED

At or for the Quarters Ended

Sep 30,

Jun 30,

Mar 31,

Dec 31,

Sep 30,

(in thousands)

2024

2024

2024

2023

2023

NON-PERFORMING ASSETS

Non-accruing loans:

Commercial real estate

$

1,451

$

551

$

578

$

610

$

867

Commercial and industrial

1,218

1,301

1,152

363

1,595

Residential real estate

3,453

3,511

4,169

3,742

3,673

Consumer

978

914

971

813

635

Total non-accruing loans

7,100

6,277

6,870

5,528

6,770

Other real estate owned

-

-

-

-

-

Total non-performing assets

$

7,100

$

6,277

$

6,870

$

5,528

$

6,770

Total non-accruing loans/total loans

0.23

%

0.20

%

0.23

%

0.18

%

0.23

%

Total non-performing assets/total assets

0.18

0.16

0.17

0.14

0.17

PROVISION AND ALLOWANCE FOR CREDIT LOSSES

Balance at beginning of period

$

28,855

$

28,355

$

28,142

$

28,011

$

27,362

Charged-off loans

(98

)

(106

)

(113

)

(632

)

(74

)

Recoveries on charged-off loans

38

21

37

76

50

Net loans (charged-off) recovered

(60

)

(85

)

(76

)

(556

)

(24

)

Provision for credit losses

228

585

289

687

673

Balance at end of period

$

29,023

$

28,855

$

28,355

$

28,142

$

28,011

Allowance for credit losses/total loans

0.94

%

0.94

%

0.94

%

0.94

%

0.94

%

Allowance for credit losses/non-accruing loans

409

460

413

509

414

NET LOAN (CHARGE-OFFS) RECOVERIES

Commercial real estate

$

-

$

-

$

(3

)

$

-

$

-

Commercial and industrial

(8

)

(2

)

(64

)

(479

)

34

Residential real estate

5

3

5

3

13

Consumer

(57

)

(86

)

(14

)

(80

)

(71

)

Total, net

$

(60

)

$

(85

)

$

(76

)

$

(556

)

$

(24

)

Net charge-offs (recoveries) (QTD annualized)/average loans

0.01

%

0.01

%

0.01

%

0.07

%

-

%

Net charge-offs (recoveries) (YTD annualized)/average loans

0.01

0.01

0.01

0.02

0.01

DELINQUENT AND NON-ACCRUING LOANS/ TOTAL LOANS

30-89 Days delinquent

0.09

%

0.10

%

0.14

%

0.11

%

0.13

%

90+ Days delinquent and still accruing

0.01

-

-

0.01

0.03

Total accruing delinquent loans

0.10

0.10

0.14

0.12

0.16

Non-accruing loans

0.23

0.20

0.23

0.18

0.23

Total delinquent and non-accruing loans

0.33

%

0.30

%

0.37

%

0.30

%

0.39

%

BAR HARBOR BANKSHARES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES AND SUPPLEMENTARY DATA - UNAUDITED

At or for the Quarters Ended

Sep 30,

Jun 30,

Mar 31,

Dec 31,

Sep 30,

(in thousands)

2024

2024

2024

2023

2023

Net income

$

12,193

$

10,257

$

10,095

$

9,945

$

11,104

Non-core items:

Gain on sale of securities, net

-

(50

)

-

-

-

(Gain) loss on sale of premises and equipment, net

-

(248

)

(15

)

281

-

Acquisition, conversion and other expenses

-

-

20

263

-

Income tax expense (1)

-

71

(1

)

(131

)

-

Total non-core items

-

(227

)

4

413

-

Core earnings (2)
(A)

$

12,193

$

10,030

$

10,099

$

10,358

$

11,104

Net interest income
(B)

$

28,958

$

27,759

$

28,055

$

28,793

$

29,186

Non-interest income

9,653

9,457

8,586

8,850

8,815

Total revenue

38,611

37,216

36,641

37,643

38,001

Gain on sale of securities, net

-

(50

)

-

-

-

Total core revenue (2)
(C)

$

38,611

$

37,166

$

36,641

$

37,643

$

38,001

Total non-interest expense

24,772

23,842

23,688

24,367

23,016

Non-core expenses:

Gain (loss) on sale of premises and equipment, net

-

248

15

(281

)

-

Acquisition, conversion and other expenses

-

-

(20

)

(263

)

-

Total non-core expenses

-

248

(5

)

(544

)

-

Core non-interest expense (2)
(D)

$

24,772

$

24,090

$

23,683

$

23,823

$

23,016

Total revenue

38,611

37,216

36,641

37,643

38,001

Total non-interest expense

24,772

23,842

23,688

24,367

23,016

Pre-tax, pre-provision net revenue

$

13,839

$

13,374

$

12,953

$

13,276

$

14,985

Core revenue(2)

38,611

37,166

36,641

37,643

38,001

Core non-interest expense(2)

24,772

24,090

23,683

23,823

23,016

Core pre-tax, pre-provision net revenue(2)
(U)

$

13,839

$

13,076

$

12,958

$

13,820

$

14,985

(in millions)

Average earning assets
(E)

$

3,728

$

3,665

$

3,645

$

3,652

$

3,687

Average assets
(F)

4,027

3,960

3,938

3,940

3,984

Average shareholders' equity
(G)

454

436

436

419

411

Average tangible shareholders' equity (2) (3)
(H)

330

312

312

294

286

Tangible shareholders' equity, period-end (2) (3)
(I)

336

315

312

308

280

Tangible assets, period-end (2) (3)
(J)

3,906

3,910

3,835

3,847

3,859

BAR HARBOR BANKSHARES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES AND SUPPLEMENTARY DATA - UNAUDITED

At or for the Quarters Ended

Sep 30,

Jun 30,

Mar 31,

Dec 31,

Sep 30,

(in thousands)

2024

2024

2024

2023

2023

Common shares outstanding, period-end
(K)

15,268

15,232

15,212

15,172

15,156

Average diluted shares outstanding
(L)

15,326

15,275

15,270

15,221

15,196

Core earnings per share, diluted (2)
(A/L)

$

0.80

$

0.66

$

0.66

$

0.68

$

0.73

Tangible book value per share, period-end (2)
(I/K)

22.02

20.68

20.48

20.28

18.45

Tangible shareholders' equity/total tangible assets (2)
(I/J)

8.61

8.06

8.13

8.00

7.25

Performance ratios (4)

GAAP return on assets

1.20

%

1.04

%

1.03

%

1.00

%

1.11

%

Core return on assets (2)
(A/F)

1.20

1.02

1.03

1.04

1.11

Pre-tax, pre-provision return on assets

1.37

1.36

1.32

1.34

1.49

Core pre-tax, pre-provision return on assets (2)
(U/F)

1.37

1.33

1.32

1.39

1.49

GAAP return on equity

10.68

9.46

9.32

9.43

10.72

Core return on equity (2)
(A/G)

10.68

9.25

9.32

9.82

10.72

Return on tangible equity

14.90

13.44

13.26

13.65

15.65

Core return on tangible equity (1) (2)
(A+Q)/H

14.90

13.15

13.27

14.21

15.65

Efficiency ratio (2) (5)
(D-O-Q)/(C+N)

62.09

62.78

62.91

61.38

58.59

Net interest margin, fully taxable equivalent (2)
(B+P)/E

3.15

3.09

3.14

3.17

3.18

Supplementary data (in thousands)

Taxable equivalent adjustment for efficiency ratio
(N)

$

686

$

528

$

523

$

561

$

565

Franchise taxes included in non-interest expense
(O)

138

191

70

141

186

Tax equivalent adjustment for net interest margin
(P)

550

389

388

395

405

Intangible amortization
(Q)

233

233

233

233

233

(1) Assumes a marginal tax rate of 23.82% in the second and third quarter 2024, 24.01% in the first quarter 2024 and the fourth quarter 2023, and 23.80% in the first three quarters of 2023.
(2) Non-GAAP financial measure.
(3) Tangible shareholders' equity is computed by taking total shareholders' equity less the intangible assets at period-end. Tangible assets is computed by taking total assets less the intangible assets at period-end.
(4) All performance ratios are based on average balance sheet amounts, where applicable.
(5) Efficiency ratio is computed by dividing core non-interest expense net of franchise taxes and intangible amortization divided by core revenue on a fully taxable equivalent basis.

SOURCE: Bar Harbor Bank & Trust



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FAQ

What was Bar Harbor Bankshares' (BHB) net income for Q3 2024?

Bar Harbor Bankshares reported GAAP and core net income of $12.1 million or $0.80 per diluted share for the third quarter of 2024.

How much did Bar Harbor Bankshares' (BHB) wealth management fee income grow in Q3 2024?

Bar Harbor Bankshares' wealth management related fee income grew by 17% year over year in the third quarter of 2024.

What was the dividend declared by Bar Harbor Bankshares (BHB) for Q3 2024?

Bar Harbor Bankshares declared a cash dividend of $0.30 per share, payable on December 13, 2024.

How much did Bar Harbor Bankshares' (BHB) total deposits increase in Q3 2024?

Bar Harbor Bankshares' total deposits increased by $120.6 million to $3.3 billion in the third quarter of 2024.

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