Bar Harbor Bankshares reported a 10.2 percent increase in first-quarter earnings and a decline in bad loans as credit quality improved.
The bank, which has 12 branches Down East and in the midcoast, said net income totaled $3.2 million, or 81 cents a share, up from $2.9 million, or 74 cents a share, in the year-ago quarter. Total assets increased by $57 million to $1.2 billion.
“We are encouraged to have started the year with record quarterly earnings, continued loan growth, improving credit quality and an expanding net interest margin,” said Joseph Murphy, chief executive officer and president.
The company said it has seen “sustained growth” in both commercial and consumer loans. Bad loans or nonperforming loans had declined.
Send questions/comments to the editors.
Success. Please wait for the page to reload. If the page does not reload within 5 seconds, please refresh the page.
Enter your email and password to access comments.
Hi, to comment on stories you must . This profile is in addition to your subscription and website login.
Already have one? .
Invalid username/password.
Please check your email to confirm and complete your registration.
Only subscribers are eligible to post comments. Please subscribe or login to participate in the conversation. Here’s why.
Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code.