Bar Harbor Bankshares Q1 2025: $10.2mln GAAP net income, $10.5mln core net income

• Bar Harbor Bankshares reports Q1 2025 GAAP net income of $10.2M, $0.66 per diluted share. • Core net income at $10.5M, $0.68 per diluted share. • Net interest margin remains strong at 3.17%. • Wealth management assets under management grew 6%. • Dividend increased by 7%. • Signed Definitive Merger Agreement to acquire Woodsville Guaranty Bancorp, Inc.

Bar Harbor Bankshares (NYSE American: BHB) reported its first quarter 2025 earnings on April 17, 2025, with GAAP net income of $10.2 million, equating to $0.66 per diluted share. Core net income stood at $10.5 million, or $0.68 per diluted share. The company's net interest margin remained strong at 3.17%. Additionally, wealth management assets under management grew by 6%, and the dividend was increased by 7% [1].

The company's President and Chief Executive Officer, Curtis C. Simard, highlighted the strong performance despite market volatility. He noted that exceptional customer service and proactive management drove financial strength. The commercial lending team delivered $50 million in new originations, offsetting some larger pay downs. The acquisition of Woodsville Guaranty Bancorp, Inc., which operates in markets similar to Bar Harbor Bankshares, will strengthen the company's presence in northern New England [2].

Financial conditions remained stable with total assets of $4.1 billion, total cash and cash equivalents of $88.1 million, and total loans of $3.1 billion. The company's securities portfolio yielded an average of 3.80% for the first quarter 2025. The Board of Directors voted to increase the cash dividend to $0.32 per share, effective on June 13, 2025. The dividend annualized yield increased from 3.92% to 4.34% [2].

References:
[1] https://www.marketbeat.com/earnings/reports/2025-4-17-bar-harbor-bankshares-stock/
[2] https://finance.yahoo.com/news/bar-harbor-bankshares-reports-first-201500963.html