Bar Harbor Bankshares (NYSE American: BHB) has reported its third-quarter 2025 results, showcasing impressive growth and performance across various metrics. Let's delve into the specific figures and changes observed since the last period.
Financial Performance: GAAP net income for the third quarter of 2025 was $8.9 million or $0.54 per diluted share, a significant increase from the second quarter of 2025, which stood at $6.1 million or $0.40 per diluted share. Core earnings (non-GAAP) for the third quarter of 2025 amounted to $15.4 million or $0.95 per diluted share, up from $10.8 million or $0.70 per diluted share in the second quarter of 2025.
Acquisition and Integration: The acquisition of Guaranty Bancorp, Inc. on August 1, 2025, contributed to the increase in total assets, which surged by 15% to $4.7 billion by the end of the third quarter of 2025. The successful integration of Woodsville Guaranty Savings Bank resulted in the seamless operation across the entire footprint, with a 56.70% efficiency ratio, an improvement from 62.10% in the prior quarter.
Financial Condition: Total deposits grew to $4.0 billion at the end of the third quarter of 2025, driven by 16% annualized quarter-to-date organic growth compared to the second quarter of 2025. Total loans increased to $3.6 billion from $3.2 billion in the second quarter, primarily due to the acquisition of $413.4 million from Woodsville.
Interest Margin and Income: The net interest margin expanded to 3.56% from 3.23% in the prior quarter, reflecting the strategic deployment of excess liquidity to fund new growth and pay off more expensive wholesale borrowings. Total interest and dividend income increased by 15.1% to $55.9 million in the third quarter of 2025 compared to the same period in 2024, driven by the repricing of commercial adjustable-rate loans and higher average loan balances.
Non-Interest Income and Expenses: Non-interest income increased to $10.6 million in the third quarter of 2025, primarily driven by customer service fees and customer derivative income. Non-interest expenses increased to $32.7 million in the third quarter of 2025, with $4.9 million attributed to acquisition expenses related to Woodsville.
Dividend: * The board of directors declared a cash dividend of $0.32 per share, showcasing a 4.20% annualized yield based on the closing share price of $30.46 on September 30, 2025.
As a result of these announcements, the company's shares have moved 0.27% on the market, and are now trading at a price of $29.51. For the full picture, make sure to review BAR HARBOR BANKSHARES's 8-K report.
