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Sep 30, 2023
Bar Harbor Bankshares Q3 2023 Earnings Report
Reported net income of $11.1 million, with diluted EPS of $0.73, driven by consistent performance and strategic balance sheet management.
Key Takeaways
Bar Harbor Bankshares reported a solid third quarter with net income of $11.1 million, or $0.73 per diluted share. The company focused on managing funding costs and selectively growing high-quality loan relationships, while non-performing assets remained low and deposit beta was well-managed.
Net income reached $11.1 million, or $0.73 per diluted share.
Net interest income increased to $29.2 million.
Non-performing assets remained low at 0.17% of total assets.
Opened 1,740 non-maturity accounts.
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
Bar Harbor Bankshares' management expressed confidence in the company's ability to execute its business strategies and deliver shareholder returns amid volatile market conditions.