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Dec 31, 2021
Bar Harbor Bankshares Q4 2021 Earnings Report
Net income increased due to higher fee income and lower operating expenses.
Key Takeaways
Bar Harbor Bankshares reported Q4 2021 net income of $9.8 million, or $0.65 per diluted share, compared to $8.6 million, or $0.58 per diluted share, for the same period in 2020. The increase was driven by higher fee income and lower operating expenses.
Return on assets was 1.02%, or 1.07% on a core basis.
Core pre-tax, pre-provision net revenue grew by 13%, excluding Paycheck Protection Program (PPP) loans.
Annualized commercial loan growth was 13%, excluding PPP loans.
Annualized core deposit growth was 13%.
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 continues to actively manage the balance sheet, investing excess liquidity diligently without compromising our credit or interest rate risk appetites. The Company is well positioned regardless of the resulting economic environment.
Positive Outlook
- The net result of the transactions is expected to add five basis points to NIM
- The net result of the transactions is expected to add $0.02 to core earnings per share in the first quarter 2022
- Pipelines remain robust and we see the momentum continuing into the first quarter
- All of these trends are positive and are expected to continue as we move into 2022 based on our credit disciplines.
- Continue to actively manage the balance sheet, investing excess liquidity diligently without compromising our credit or interest rate risk appetites
Revenue & Expenses
Visualization of income flow from segment revenue to net income