Bar Harbor Bankshares ( (BHB) ) has released its Q1 earnings. Here is a breakdown of the information Bar Harbor Bankshares presented to its investors.
Bar Harbor Bankshares, a community bank operating in Northern New England, provides full-service banking through its subsidiary Bar Harbor Bank & Trust. In the first quarter of 2025, Bar Harbor Bankshares reported a GAAP net income of $10.2 million, with a slight decrease from the previous quarter. The company announced a 7% increase in its dividend and a merger agreement with Woodsville Guaranty Bancorp, Inc., aiming to expand its presence in Northern New England. Key financial metrics include a stable net interest margin of 3.17%, a 6% growth in assets under management, and a 4.3% increase in total interest expense. The company maintained strong asset quality and stable deposits, with a slight shift in asset mix towards cash. Looking ahead, Bar Harbor Bankshares is focused on delivering consistent shareholder returns and is well-positioned to navigate the current economic environment.