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Mar 31, 2020
Bar Harbor Bankshares Q1 2020 Earnings Report
Bar Harbor Bankshares' first quarter earnings increased due to growth in commercial loans and non-maturity deposits.
Key Takeaways
Bar Harbor Bankshares reported a strong first quarter with a 6% increase in net income compared to the same quarter of the previous year. The company's financial performance was driven by growth in commercial loans and non-maturity deposits.
Net income increased by 6% compared to Q1 2019, reaching $7.7 million or $0.50 per share.
Commercial loans experienced an annualized growth of 6%.
Non-maturity deposits grew at an annualized rate of 10%.
Net interest margin improved to 3.06% compared to 2.77% in the same quarter last year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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