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Bar Harbor Bankshares operates as the holding company for Bar Harbor Bank & Trust that provides banking and nonbanking products and services primarily to consumers and businesses. The company offers deposit products, including interest-bearing and non-interest-bearing demand accounts, savings accounts, time deposits, and money market deposit accounts, as well as certificates of deposit. It also provides commercial construction loans, such as raw land, land development, and construction of commercial and multifamily residential properties; commercial real estate owner occupied and non-owner occupied loans; tax exempt loans to various state and municipal government entities; commercial and industrial loans, including loans for the purpose of financing working capital and capital investment; residential real estate loans consists of one-to-four family homes; home equity loans; and consumer loans, including personal lines of credit and amortizing loans to qualified individuals for various purposes, such as auto loans, recreational equipment, overdraft protection, and other consumer loans, as well as allowance for credit losses. In addition, the company provides life insurance, annuity, and retirement products; financial planning services; and third-party investment and insurance services. Further, it offers trust and estate administration, wealth advisory, and investment management services to individuals, businesses, not-for-profit organizations, and municipalities; and 401(K) plan, financial, estate and charitable planning, investment management, family office, municipal, and tax services. Bar Harbor Bankshares was founded in 1887 and is headquartered in Bar Harbor, Maine.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $168M | - | $37M | $43M | 6.9% | 12.5% | -15.2% |
| 2024 | $150M | - | $44M | $45M | 9.5% | -2.1% | -2.9% |
| 2023 | $153M | - | $45M | $41M | 10.4% | 3.0% | 3.0% |
| 2022 | $148M | - | $44M | $53M | 11.1% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 148.33 | 152.75 | 149.56 | 168.30 |
| Pretax Income | 54.84 | 57.12 | 52.61 | 45.94 |
| Tax Provision | 11.29 | 12.27 | 9.07 | 9.02 |
| Net Income | 43.56 | 44.85 | 43.54 | 36.92 |
| Net Income Common Stockholders | 43.56 | 44.85 | 43.54 | 36.92 |
| Interest Expense | 12.85 | 56.51 | 74.89 | 75.04 |
| Interest Income | 126.53 | 174.18 | 188.72 | 209.52 |
| Selling General And Administration | 51.24 | 55.95 | 58.67 | 64.49 |
| Normalized Income | 43.78 | 45.22 | 43.40 | 45.64 |
| Basic EPS | 2.90 | 2.96 | 2.86 | 2.32 |
| Diluted EPS | 2.88 | 2.95 | 2.84 | 2.31 |
| Tax Effect Of Unusual Items | -0.06 | -0.10 | 0.03 | -2.13 |
| Tax Rate For Calcs | 0.21 | 0.21 | 0.17 | 0.20 |
| Total Unusual Items | -0.28 | -0.47 | 0.17 | -10.85 |
| Total Unusual Items Excluding Goodwill | -0.28 | -0.47 | 0.17 | -10.85 |
| Net Income From Continuing Operation Net Minority Interest | 43.56 | 44.85 | 43.54 | 36.92 |
| Reconciled Depreciation | 6.42 | 6.33 | 3.42 | 6.15 |
| Net Interest Income | 113.68 | 117.67 | 113.84 | 134.48 |
| Net Income From Continuing And Discontinued Operation | 43.56 | 44.85 | 43.54 | 36.92 |
| Diluted Average Shares | 15.11 | 15.20 | 15.31 | 15.96 |
| Basic Average Shares | 15.04 | 15.14 | 15.24 | 15.89 |
| Diluted NI Availto Com Stockholders | 43.56 | 44.85 | 43.54 | 36.92 |
| Net Income Including Noncontrolling Interests | 43.56 | 44.85 | 43.54 | 36.92 |
| Net Income Continuous Operations | 43.56 | 44.85 | 43.54 | 36.92 |
| Special Income Charges | -0.28 | -0.47 | 0.17 | -10.85 |
| Other Special Charges | 0.01 | 0.18 | -0.19 | 0.26 |
| Restructuring And Mergern Acquisition | 0.27 | 0.28 | 0.02 | 10.59 |
| Gain On Sale Of Security | 0.36 | 0.44 | -0.19 | -3.95 |
| Depreciation Amortization Depletion Income Statement | 5.22 | 5.13 | 5.13 | 5.82 |
| Depreciation And Amortization In Income Statement | 5.22 | 5.13 | 5.13 | 5.82 |
| Amortization | 0.93 | 0.93 | 0.93 | 1.51 |
| Amortization Of Intangibles Income Statement | 0.93 | 0.93 | 0.93 | 1.51 |
| Depreciation Income Statement | 4.29 | 4.20 | 4.20 | 4.30 |
| Selling And Marketing Expense | 1.56 | 1.70 | 2.01 | 2.04 |
| General And Administrative Expense | 49.68 | 54.26 | 56.66 | 62.45 |
| Other Gand A | 0 | 0 | 0 | 0 |
| Insurance And Claims | 1.02 | 1.74 | 1.81 | 1.92 |
| Salaries And Wages | 48.66 | 52.52 | 54.85 | 60.53 |
| Operating Revenue | 148.33 | 152.75 | 149.56 | 168.30 |
| Occupancy And Equipment | 13.28 | 13.39 | 13.79 | 14.53 |
| Professional Expense And Contract Services Expense | 1.61 | 1.59 | 1.42 | 1.81 |
| Other Non Interest Expense | 17.19 | 16.29 | 17.93 | 19.43 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Bar Harbor Banksharesthis co. | BHB | $577M | 14.00↑ premium | 1.07 | 6.9% | - |
| California BanCorp | BCAL | $598M | 10.16 | 1.05 | 10.9% | - |
| Arrow Financial Corporation | AROW | $596M | 13.61 | 1.37 | 10.2% | - |
| Washington Trust Bancorp, Inc. | WASH | $591M | 11.32 | 1.09 | 9.6% | - |
| Northfield Bancorp, Inc. | NFBK | $582M |
| 107.23 |
| 0.84 |
| 0.1% |
| - |
| AMERISAFE, Inc. | AMSF | $577M | 12.04 | 2.26 | 18.7% | - |
| American Coastal Insurance Corporation | ACIC | $573M | 5.51 | 1.80 | 33.6% | 3.29 |
| Peoples Financial Services Corp. | PFIS | $566M | 9.62 | 1.09 | 11.4% | - |
| Carter Bankshares, Inc. | CARE | $558M | 5.17 | 1.11 | 7.5% | - |
| Peer Median | - | 10.74 | 1.10 | 10.6% | 3.29 | |