What factors influenced BHB's earnings in 2023?

Bar Harbor Bankshares (BHB) experienced a net income of $9.95 million and total revenue of $37.49 million in 2023. The diluted EPS for BHB in 2023 was not provided, but the bank's earnings were influenced by several key factors:

1. **Market Conditions**: The broader housing market, including factors such as higher mortgage interest rates and inflationary pressures, impacted BHB's earnings negatively. These conditions led to challenges for the bank's mortgage lending and real estate activities.
2. **Strategic Initiatives**: BHB's earnings were also influenced by its strategic initiatives aimed at navigating changing market conditions and maintaining the health of its balance sheet. These initiatives included cost control measures.
3. **Prior Year Comparisons**: The bank's earnings in 2023 were influenced by comparisons to the prior year, where it had achieved record performance. This meant that sustaining such performance was challenging due to the high base set by the previous year's results.

In summary, BHB's 2023 earnings were influenced by market conditions, strategic initiatives, and prior year comparisons. These factors collectively impacted the bank's financial performance, resulting in a net income of $9.95 million and total revenue of $37.49 million.