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 reports recurring developments as a bank holding company for Bar Harbor Bank & Trust, including operating results, loan and deposit trends, customer service fees, trust management fee income, securities activity and quarterly cash dividends. The company provides banking, lending, card, online and mobile banking, merchant services, brokerage access, and trust and investment management services for individuals, businesses, nonprofit organizations and municipalities.
Company news also covers capital and governance matters, shareholder voting topics, and completed expansion activity in Northern New England. The completed acquisition of Guaranty Bancorp and Woodsville Guaranty Savings Bank expanded Bar Harbor's banking footprint in Maine, New Hampshire and Vermont.
Bar Harbor Bankshares (NYSE American: BHB) reported a strong fourth quarter 2020 with net income reaching $8.6 million, or $0.58 per share, a significant increase from $4.2 million, or $0.27 per share, in the same period of 2019. Core earnings climbed 11% to $9.2 million, or $0.62 per share, compared to $8.8 million in Q4 2019. Key highlights included 11% annualized growth in commercial loans, a 3.02% net interest margin, and a 0.33% ratio of non-performing assets to total assets. Strategic operational adjustments during the pandemic have positioned the bank for continued growth.
Bar Harbor Bankshares (BHB) declared a quarterly cash dividend of $0.22 per share at its Board meeting on January 19, 2021. The dividend is for shareholders of record as of February 18, 2021, and will be payable on March 18, 2021. This represents an annualized yield of 3.90%, calculated from the closing stock price of $22.59 on December 31, 2020. The company emphasizes its commitment to serving clients in Northern New England for over 130 years.
Bar Harbor Bankshares (NYSE American: BHB) reported a strong third quarter 2020 with a net income of $8.4 million, or $0.56 per share, up from $5.0 million in Q3 2019. Core earnings rose 30% to $9.2 million, or $0.61 per share. Key highlights include 13% annualized growth in commercial loans and a net interest margin increase to 2.98%. Non-interest income grew 32% to $10.1 million. The loan-to-deposit ratio improved to 92%, reflecting solid operational performance and effective risk management amidst the COVID-19 pandemic.
Bar Harbor Bankshares (NYSE American:BHB) announced a quarterly cash dividend of $0.22 per share, declared on October 20, 2020. Shareholders of record by November 18, 2020, will receive the dividend on December 18, 2020. This represents an annualized yield of 4.28% based on the stock's closing price of $20.55 at Q3 2020. Established in 1887, Bar Harbor Bank & Trust operates in Maine, New Hampshire, and Vermont, providing comprehensive community banking services.