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Mar 31, 2022
Bar Harbor Bankshares Q1 2022 Earnings Report
Reported net income of $9.1 million and EPS of $0.60, demonstrating a strong start to the year with loan growth and net interest margin expansion.
Key Takeaways
Bar Harbor Bankshares reported a solid first quarter with strong commercial loan growth, expanded net interest margin, and increased fee-based income. The company effectively managed expenses and maintained credit quality and capital levels.
Net income was $9.1 million, or $0.60 per diluted share.
Annualized commercial loan growth reached 21%.
Net interest margin expanded to 2.95%.
Fee-based revenue increased by 11%.
Bar Harbor Bankshares
Bar Harbor Bankshares
Bar Harbor Bankshares Revenue by Segment
Revenue by Segment
Wealth management Revenue
CapyFin.comCustomer service fees Revenue
CapyFin.com Forward Guidance
The asset sensitivity of the balance sheet positions the company to expect to further benefit from any potential Fed rate hikes.