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Bar Harbor Bankshares announces fiscal results.

BANKING AND CREDIT NEWS-July 22, 2019--Bar Harbor Bankshares announces fiscal results

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Global Banking News - 22 July 2019

Bar Harbor Bankshares (NYSE: BHB) has reported second quarter 2019 net income of USD6.1m, or USD0.39 diluted earnings per share. Net income in the second quarter of 2018 totalled USD8.5m, or USD0.55 diluted earnings per share.

The company's core earnings (non-GAAP measure) in the second quarter 2019 totalled USD6.3m, or USD0.41 diluted earnings per share, and USD8.7m, or USD0.56 diluted earnings per share, in the same period of 2018.

Total assets increased in the second quarter by USD58.4m, or 6.0 percent annualised, to USD3.7bn. Loan balances in the second quarter 2019 were up USD51.3m from the first quarter or 8.0 percent annualised. Loan to deposit ratio increased to 104.0 percent in the second quarter 2019 from 102.0 percent in the first quarter 2019 given the strong loan growth.

Bar Harbor Bankshares is the parent company of its wholly owned subsidiary, Bar Harbor Bank & Trust, a community bank. Bar Harbor provides full service community banking with office locations in all three Northern New England states of Maine, New Hampshire, and Vermont. Bar Harbor Bank & Trust is headquartered in Bar Harbor, Maine.

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Publication:M2 Banking & Credit News (BCN)
Article Type:Financial report
Geographic Code:1U1ME
Date:Jul 22, 2019
Words:244
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