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Dec 31, 2022
Bar Harbor Bankshares Q4 2022 Earnings Report
Net income increased compared to the same quarter last year.
Key Takeaways
Bar Harbor Bankshares reported a strong fourth quarter in 2022, with net income up 28% compared to the same quarter in 2021. The company's performance metrics showed significant favorable expansion throughout 2022, including 19% in total commercial loan growth for the year.
Net income increased 28% to $12.5 million, or $0.83 per diluted share, compared to $9.8 million, or $0.65 per diluted share, in the same quarter of 2021.
Return on assets was 1.30%, compared to 1.02% in the same quarter of 2021.
Return on equity was 12.73%, compared to 9.16% in the same quarter of 2021.
Net interest margin increased to 3.76%, compared to 2.79% in the same period of 2021.
Forward Guidance
Bar Harbor Bankshares is well positioned for success in 2023, regardless of the rate environment, and is focused on the needs of its customers while delivering shareholder value.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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