Bar Harbor Bankshares reported its financial results for the third quarter of 2025, revealing a net income of $8.9 million, or $0.54 per diluted share, compared to $12.2 million, or $0.80 per diluted share, in the same period last year. The company's total revenue for the quarter reached $47.5 million, a significant increase from $38.6 million in the prior year, driven primarily by a rise in net interest income, which amounted to $37.0 million, up from $29.0 million. The net interest margin improved to 3.56%, compared to 3.15% in the third quarter of 2024, reflecting the impact of the acquisition of Guaranty Bancorp, which added $413.4 million in loans and $531.3 million in deposits.
The acquisition of Guaranty Bancorp, completed on July 31, 2025, was a pivotal event for Bar Harbor Bankshares, expanding its footprint in New Hampshire with the addition of nine branches. This strategic move contributed to a 15% increase in total assets, which reached $4.7 billion as of September 30, 2025. The company also reported a total loan portfolio of $3.6 billion, up from $3.2 billion, with commercial loans increasing to $2.3 billion. The allowance for credit losses on loans rose to $33.9 million, reflecting a proactive approach to managing credit risk amid the acquisition.
Operationally, Bar Harbor Bankshares saw a notable increase in customer engagement, with total deposits growing to $3.9 billion, bolstered by both the acquisition and organic growth. The bank's non-interest income also increased to $10.6 million, up from $9.7 million, primarily due to higher customer service fees linked to the expanded customer base from the acquisition. However, non-interest expenses rose to $32.7 million, driven by $5.0 million in acquisition-related costs and increased salaries and benefits.
Looking ahead, Bar Harbor Bankshares maintains a strong liquidity position, with cash and available-for-sale securities representing approximately 16% of total assets. The company is well-capitalized under regulatory guidelines, with a total capital ratio of 13.05% as of September 30, 2025. Management expressed confidence in the bank's ability to navigate potential market challenges, emphasizing a commitment to disciplined loan pricing and effective deposit management strategies. The outlook remains positive, with expectations for continued growth in both loans and deposits as the integration of Guaranty Bancorp progresses.
About BAR HARBOR BANKSHARES
Bar Harbor Bankshares is a regional bank holding company operating through its subsidiary, Bar Harbor Bank & Trust, the only community bank headquartered in Northern New England. It offers a full range of banking, trust, wealth management, and brokerage services to individuals, businesses, and institutions across Maine, New Hampshire, and Vermont. The company emphasizes local decision-making, strong customer relationships, diversified loan portfolios, and fee-based income from trust and treasury services.
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