Bar Harbor Bankshares (BHB) Q3 2025 earnings summary

Executive summary

• Completed acquisition of Guaranty Bancorp, Inc. (Woodsville), adding $658.1 million in assets, $413.4 million in loans, and $531.3 million in deposits, expanding presence in New Hampshire with 9 new branches.

• Total assets increased to $4.7 billion as of September 30, 2025, up 15% from the prior quarter, driven by the acquisition and organic growth.

• Reported GAAP net income of $8.9 million ($0.54 per diluted share) and adjusted/core earnings of $15.4 million ($0.95 per share), up from $12.2 million and $10.8 million, respectively, in the prior periods.

• Declared a $0.32 per share dividend, equating to a 4.20% annualized yield.

• Liquidity and capital remain strong, with cash and available-for-sale securities at 16% of total assets and regulatory capital ratios well above required minimums.

Financial highlights

• Net interest income rose to $37.0 million from $29.0 million year-over-year; net interest margin increased to 3.56% from 3.15% year-over-year and 3.23% sequentially.

• Non-interest income increased by $914 thousand to $10.6 million, primarily due to customer service fees and derivative income.

• Non-interest expenses rose $8.0 million to $32.7 million, mainly from $5.0 million in acquisition costs and higher salaries and occupancy expenses.

• Allowance for credit losses to total loans increased to 0.95%, with allowance for credit losses on loans at $33.9 million.

• Book value per share was $31.22 and tangible book value per share was $21.70 at quarter-end.

Outlook and guidance

• Management expects continued growth and profitability from the expanded footprint and optimized balance sheet, with ongoing focus on disciplined loan pricing and deposit cost management.

• The company plans to maintain quarterly cash dividends, subject to board discretion.

• Forward-looking statements highlight risks from economic conditions, interest rates, and credit quality.