10-K - Bar Harbor Bankshares | StockGist

AI Analysis

AI-generated analysis. Always verify with the original filing.

Bar Harbor Bankshares reported net income of $36.9 million for FY 2025, a decrease from $43.5 million in FY 2024. Diluted earnings per share were $2.31, down from $2.84. The company's net interest income increased to $134.5 million from $113.8 million, driven by a higher net interest margin of 3.41% compared to 3.15%. Total assets grew to $4.68 billion from $4.08 billion, primarily due to the acquisition of Guaranty Bancorp, Inc., which added $658.1 million in assets. Non-interest income declined to $34.5 million from $36.9 million, while non-interest expense rose to $117.7 million from $96.0 million, largely due to $10.6 million in acquisition-related costs. The efficiency ratio improved to 59.23% from 61.83%.

Key Takeaways

1Net income decreased 15% to $36.9 million from $43.5 million year-over-year.

2Net interest margin improved to 3.41% from 3.15% in the prior year.

3Total assets grew 15% to $4.68 billion, driven by the Guaranty Bancorp acquisition.

4Efficiency ratio improved to 59.23% from 61.83% year-over-year.

5Allowance for credit losses increased to $34.1 million from $28.7 million.

Key Financial Metrics

EPS

$2.31

$2.84 prior year

Revenue

$169.0M

+11.9%

Net Income

$36.9M

-15.2%

Gross Margin

79.6%

77.5% prior year

free cash flow

$48.3M

operating margin

27.2%