Welcome to our dedicated page for Bar Harbor Bk news (Ticker: BHB), a resource for investors and traders seeking the latest updates and insights on Bar Harbor Bk stock.
Bar Harbor Bankshares (BHB), a community banking institution serving Northern New England since 1887, maintains this dedicated news hub for stakeholders seeking authoritative updates. This page aggregates official announcements, including quarterly earnings disclosures, strategic partnership details, and leadership developments.
Investors and community members alike will find timely updates on commercial lending initiatives, wealth management service expansions, and local economic impact programs. All content undergoes rigorous verification to ensure alignment with regulatory standards and factual accuracy.
Key updates include dividend declarations, branch network expansions, and innovations in digital banking services. The curated collection serves as both historical record and current awareness tool, particularly valuable for tracking long-term performance trends.
Bookmark this page for streamlined access to BHB's financial communications. Combine regular monitoring with review of annual reports for complete perspective on this institution's community-focused banking approach.
Bar Harbor Bankshares (NYSE American: BHB) reported a robust first quarter of 2023 with net income climbing 43% to $13.0 million or $0.86 per diluted share, compared to $9.1 million or $0.60 in Q1 2022. Key highlights include a return on assets of 1.36% and a net interest margin of 3.54%, up from 2.95% year-over-year. Loan growth reached an impressive 8% annually, contributing to a 27% increase in net interest income. The company declared a cash dividend of $0.28 per share, reflecting a 4.23% annualized yield. Despite challenges in the macroeconomic environment, Bar Harbor Bankshares showed resilience with strong financial metrics and a stable deposit base, positioning itself for long-term growth.
Bar Harbor Bankshares (NYSE American: BHB) reported a 28% increase in fourth-quarter net income, reaching $12.5 million or $0.83 per diluted share, compared to $9.8 million or $0.65 in Q4 2021. For 2022, total net income rose 11% to $43.6 million, or $2.88 per diluted share. Highlights include a 3.76% net interest margin and significant 19% commercial loan growth. Despite a 3% drop in total deposits, the company managed to maintain strong asset quality with a 0.17% non-performing asset ratio. A cash dividend of $0.26 per share was declared, yielding 3.25% at year-end.
Bar Harbor Bankshares (BHB) reported a net income of $11.4 million or $0.76 per diluted share for Q3 2022, up from $11.0 million or $0.73 in Q3 2021. The net interest margin improved to 3.47% from 3.02% year-over-year, while loan growth surged by 18%. The efficiency ratio decreased to 58% from 59%, aided by disciplined expense management. A cash dividend of $0.26 per share was declared, yielding 3.92%.
The bank maintained strong asset quality, with a non-performing assets ratio of 0.20%.
Bar Harbor Bankshares (NYSE American: BHB) announced a net income of $10.5 million or $0.70 per diluted share for Q2 2022, up from $9.0 million or $0.60 per diluted share in Q2 2021. The bank reported a 1.14% return on assets and 11% annualized loan growth, with a 3.19% net interest margin. Core deposits grew 9% annually. The efficiency ratio improved to 59%, and non-performing assets decreased to 0.21% of total assets. A cash dividend of $0.26 per share was declared, yielding over 4%. The company also initiated a stock repurchase plan for 5% of shares.
Bar Harbor Bankshares (NYSE American:BHB) announced a stock repurchase plan, authorizing the buyback of up to 5% of its outstanding shares, totaling approximately 751,000 shares as of May 31, 2022. The plan, which can last up to 12 months, allows repurchases through various methods at the company's discretion. Key factors influencing buybacks include stock price, securities law restrictions, and the company's financial performance. This move is intended to enhance shareholder value while maintaining flexibility for other capital uses.
Bar Harbor Bankshares (NYSE American: BHB) reported a net income of $9.1 million, or $0.60 per diluted share, for Q1 2022, down from $9.5 million, or $0.63 per share in Q1 2021. Core earnings also decreased from $0.68 to $0.62. Notable highlights include a 21% increase in annualized commercial loan growth and a net interest margin improvement to 2.95%. A dividend of $0.26 per share was declared, yielding 3.63% based on the stock's closing price. Total deposits stood at $3.0 billion, with 500 new accounts opened during the quarter.
Bar Harbor Bankshares (BHB) reported a net income of $9.8 million or $0.65 per diluted share for Q4 2021, an increase compared to $8.6 million or $0.58 per share in Q4 2020. Core earnings per share rose to $0.68 from $0.62. Key highlights include a 13% growth in commercial loans and deposits, alongside a 1.02% return on assets. The net interest margin declined to 2.79%, while a dividend of $0.24 per share was declared, payable on March 17, 2022.
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