Bar Harbor Bankshares (BHB) AGM 2025 Presentation summary

Business overview and strategy

• Operates over 50 locations across Maine, New Hampshire, and Vermont, focusing on commercial, retail, and wealth management banking services.

• Emphasizes employee and customer experience, risk management, and a service-driven culture to drive growth and profitability.

• Maintains a diversified business model with a strong commitment to expanding non-interest income and deepening market presence.

• Recognized by Newsweek and Forbes as one of America's best regional and state banks in recent years.

• Invests in technology, people, and infrastructure to support sustainable community growth and operational excellence.

Financial performance and key metrics

• Reported $4.06B in assets, $3.3B in deposits, and $467M in shareholder equity as of Q1 2025.

• Q1 2025 metrics: 1.02% return on assets, 8.88% return on equity, 3.17% net interest margin, and 62% efficiency ratio.

• Maintains strong asset quality with 0.32% non-performing assets to total assets and low net charge-offs.

• Demonstrates stable deposit composition and consistent capital ratios above regulatory minimums.

• Historical financials show steady growth in loans, deposits, and profitability, with a focus on core earnings.

Merger and acquisition activity

• Signed a definitive merger agreement with Guaranty Bancorp, Inc., expanding scale in New Hampshire.

• Pro forma combined company will have $4.8B in assets, $3.9B in deposits, and $3.6B in net loans.

• Transaction is 100% stock, valued at $41.6M, with expected EPS accretion and a TBV earnback period of ~2.3 years.

• Merger enhances deposit base, offers revenue synergies, and strengthens presence in well-known markets.

• Maintains strong capital post-acquisition, supporting further growth and integration.