BHB · Bar Harbor Bankshares

Bar Harbor Bankshares delivered solid Q1 2026 results with GAAP net income rising to $13.5 million or $0.81 per diluted share from $11.8 million or $0.70 in Q4 2025, driven by a 16% increase in total interest and dividend income to $55.3 million year-over-year, fueled by higher loan yields at 5.50% and the Woodsville acquisition adding $413.4 million in loans. Net interest margin expanded to 3.54% from 3.17% a year ago, supported by lower deposit costs at 2.19% versus 2.52%. Non-interest income grew $1.5 million to $10.4 million, boosted by a $1.3 million bank-owned life insurance death benefit gain and higher trust fees from 7% assets under management growth, offset by a $1.0 million securities write-down. Expenses rose $5.2 million to $29.8 million due to Woodsville integration costs, including salaries and occupancy. Balance sheet remained stable with $4.7 billion in assets; loans declined $20.6 million to $3.6 billion on commercial real estate payoffs, while deposits increased to $3.9 billion on new customer inflows. Credit quality held firm with ACL at $34.3 million (0.96% of loans). CEO Curtis Simard highlighted profitable growth, stable margins, 1,500+ new accounts, and long-term shareholder value, enabling a 6% dividend hike to $0.34 per share (4.19% yield at $32.45 close) and a 5% buyback (~837,000 shares) pending approval. No forward guidance provided, but positioning noted as strong amid stable metrics.