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Sep 30, 2021
Bar Harbor Bankshares Q3 2021 Earnings Report
Reported third quarter results, with net income increasing compared to the same quarter last year
Key Takeaways
Bar Harbor Bankshares reported a strong third quarter in 2021, with net income of $11.0 million, or $0.73 per diluted share, compared to $8.4 million, or $0.56 per diluted share, for the same period in 2020. Core earnings (non-GAAP) were also $11.0 million, or $0.73 per diluted share, compared to $9.2 million, or $0.61 per share, for the same period in 2020.
Return on assets was 1.16% for both GAAP and non-GAAP measures.
Annualized commercial loan growth was 10%, excluding Paycheck Protection Program (PPP) loans.
Annualized core deposit growth was 32%.
Net interest margin (NIM) was 3.02% compared to 2.90%.