Bar Harbor Bankshares Reports First Quarter 2026 Results; Declares Increased Dividend; Announces Share Repurchase Plan

Bar Harbor Bankshares Reports First Quarter 2026 Results; Declares Increased Dividend; Announces Share Repurchase Plan BAR HARBOR, ME / ACCESS Newswire / April 21, 2026 / Bar Harbor Bankshares (NYSE American:BHB) (the "Company") reported first quarter 2026 GAAP net income of $13.5 million or $0.81 per diluted share and core earnings (Non-GAAP) of $14.7 million or $0.88 per diluted share compared to GAAP net income of $11.8 million or $0.70 per diluted share and core earnings (Non-GAAP) of $15.5 million or $0.93 per diluted share in the fourth quarter of 2025.

FIRST QUARTER 2026 HIGHLIGHTS (all comparisons to fourth quarter 2025, unless otherwise noted)

Net interest margin of 3.54%

1.18% return on assets; 1.28% core return on assets (Non-GAAP)

10.13% return on equity; 11.03% core return on equity (Non-GAAP)

56.92% efficiency ratio(Non-GAAP), compared to 57.24%

Bar Harbor Bankshares' President and Chief Executive Officer, Curtis C. Simard, stated, "We are pleased to announce our first quarter financial results that showcase a strong start to the year. We continue our commitment to profitable growth and maintaining a stable net interest margin. Our calling culture continues to pay off, as we saw over 1,500 accounts to new customer opened during the quarter. The Company continues to build long-term shareholder value which has once again enabled us to increase our dividend per share by 6% over last year's dividend amount, and approve our annual resolution for a stock buyback program of up to 5% of the total outstanding shares. We are well-positioned and looking forward to the rest of the year ahead."

DIVIDEND DECLARED AND STOCK REPURCHASE PLAN APPROVED

The Board of Directors of the Company voted to declare a cash dividend of $0.34 per share to shareholders of record at the close of business on May 21, 2026, payable on June 18, 2026. This represents an increase in the cash dividend of $0.02 per share from $0.32 per share last quarter. The dividend equates to a 4.19% annualized yield based on the $32.45 closing share price of the Company's common stock on March 31, 2026, the last trading day of the first quarter 2026. Additionally, the Board authorized the repurchase of up to 5% of the Company's outstanding common stock, representing approximately 837,000 shares as of March 31, 2026 under a share repurchase plan (the "Plan"). The Plan, which remains subject to regulatory approval, is authorized to last no longer than twelve months.

FINANCIAL CONDITION (Quarter results for March 31, 2026 compared to December 31, 2025)

Total assets remained constant at $4.7 billion at the end of the first quarter 2026, the less than 1% change was primarily due to increased deposits offset by paydowns in total borrowings and loans during the quarter.

Total cash and cash equivalents were $82.2 million at the end of the first quarter 2026, compared to $80.8 million at the end of the fourth quarter 2025. Interest-earning deposits with other banks increased to $46.6 million at the end of the first quarter 2026, compared to $35.9 million at the end of the fourth quarter 2025 and yielded 3.90% and 4.53%, respectively. The increase in cash balances was driven primarily by loan payoffs during the quarter.

Available-for-sale debt securities were $598.0 million compared to $597.4 million at the end of the fourth quarter 2025. Portfolio unrealized losses increased to $45.7 million at quarter-end compared to $41.7 million at the end of the fourth quarter 2025 due to the interest rate environment. During the quarter there were purchases of $25.2 million, paydowns and calls of $19.3 million and net accretion of $411 thousand. The quarter-to-date weighted average yield of the securities portfolio was 4.05% compared to 4.03% at the end of the fourth quarter 2025. As of the first quarter 2026 and the fourth quarter 2025, our securities portfolio had an average life of 7.6 years and 7.1 years respectively, with an effective duration of 5.4 years and 5.2 years, respectively. At the end of the first quarter 2026 all securities remain classified as available for sale.

Federal Home Loan Bank stock decreased $1.7 million to $9.6 million at the end of the first quarter 2026 compared to $11.3 million at the end of the fourth quarter 2025 primarily driven by the decrease in wholesale borrowings.

Total loans decreased $20.6 million to $3.6 billion in the first quarter 2026 compared to the fourth quarter 2025 driven primarily by commercial real estate payoffs. Commercial real estate loans decreased $30.2 million primarily due to one early payoff of $14.4 million and $24.4 million in loans that matured and paid off during the quarter. Commercial and industrial loans increased 24% on an annualized basis and included $16.6 million of originations during the quarter. Residential real estate loans decreased $8.1 million during the quarter primarily driven by increased prepayment activity and offset in part by a $12.0 million residential loan purchase. Loans held for sale were $11.5 million in the first quarter 2026 compared to $5.3 million in the fourth quarter 2025 as we originated $23.6 million in loans held for sale and sold $16.2 million in loans during the quarter.

The allowance for credit losses ("ACL") on loans remained stable at $34.3 million at the end of the first quarter 2026 compared to $34.1 million at the end of the fourth quarter 2025. The allowance for credit losses to total loans coverage ratio for the first quarter 2026 was in line with the fourth quarter 2025 at 0.96% versus 0.94%.

Premises and equipment increased in the first quarter 2026 to $58.9 million compared to $58.2 million at the end of the fourth quarter 2025 driven by renovation projects.

Bank owned life insurance decreased $6.4 million or 7% driven by death benefit pay outs that occurred at the end of the first quarter 2026 offset by increases in cash surrender value.

Total deposits were $3.9 billion at the end of the first quarter 2026 compared to $3.8 billion at the end of the fourth quarter of 2025. The increase was driven primarily by $17.2 million in new customer non-maturity deposits. Time deposits increased $8.2 million during the quarter due to $4.8 million in new customer time deposits and an $18.0 million increase in brokered deposits, which was offset in part by maturities.

Total borrowings decreased $53.9 million in the first quarter 2026 to $215.7 million compared to $269.6 million in the fourth quarter 2025. The decrease was driven by cash inflows from loan payoffs and increased deposits.

The Company's book value per share was $32.13 at the end of the first quarter 2026 compared to $31.88 at the end of the fourth quarter 2025. Tangible book value per share (non-GAAP) was $22.71 at the end of the first quarter 2026, compared to $22.41 at the end of the fourth quarter 2025.

RESULTS OF OPERATIONS (Quarter results for March 31, 2026 compared to March 31, 2025)

The net interest margin was 3.54% in the first quarter 2026 compared to 3.17% in the same quarter 2025. As loan balances grew year-over-year the yield on loans expanded 8 basis points to 5.50% compared to 5.42% in the same period of 2025. Interest-bearing deposit costs decreased year-over-year to 2.19% compared to 2.52% in the same period of 2025.

Total interest and dividend income increased by 16% or $7.7 million to $55.3 million in the first quarter 2026 compared to $47.5 million in the prior year. Yields on earning assets grew to 5.27% in the first quarter 2026 compared to 5.16% in the first quarter 2025. The increase is driven by year-over-year loan yield expansion primarily due to the acquisition of $413.4 million in loans from the acquisition of Woodsville Guaranty Savings Bank ("Woodsville"). The yield on commercial real estate loans grew to 5.68% in the first quarter 2026 from 5.58% in the first quarter 2025. The residential loan yield increased to 4.64% for the first quarter 2026 from 4.22% in the first quarter of 2025. Total loan yield growth was partially offset by a decrease in the commercial and industrial yield to 6.13% for the first quarter 2026 from 6.57% in the first quarter 2025 driven by the decrease in rates of adjustable-rate loans.

Total interest expense decreased $153 thousand in the first quarter 2026 compared to the first quarter 2025. Deposit costs were down $623 thousand year-over-year. Borrowing costs increased $470 thousand, or 16% year-over-year, driven by the subordinated debt acquired from Woodsville.

The provision for credit losses on loans in the first quarter 2026 was $305 thousand compared to a recapture of $57 thousand in the same period of 2025. The provision reflects minimal net charge-offs of $42 thousand while credit quality remains strong. There was no provision for investment losses in the current year compared to a $636 thousand provision in the first quarter 2025. We had a loss on available-for-sale debt securities of $1.0 million during the first quarter 2026. The loss relates to a write-down on a previously identified corporate bond with continued deteriorated credit quality that the Company does not intend to hold until recovery of the amortized cost basis.

Non-interest income increased $1.5 million in the first quarter 2026 to $10.4 million compared to $8.9 million in the same quarter 2025 primarily driven by a $1.3 million gain on death benefit from bank owned life insurance. Trust management fee income increased $199 thousand driven by the 7%, or $183.5 million, increase in assets under management compared to the same period of 2025. As noted above there was an additional write-down on one corporate debt security resulting in a loss on available-for-sale debt securities of $1.0 million during the first quarter 2026.

Non-interest expenses increased $5.2 million to $29.8 million in the first quarter 2026 compared to $24.7 million in the first quarter 2025 driven by $1.5 million in expenses related to the Woodsville acquisition. Salaries and benefits increased $2.0 million to $15.8 million in the first quarter 2026 compared to $13.7 million in the first quarter 2025 primarily due to additional salary costs associated with the retained Woodsville personnel. Occupancy and equipment increased $711 thousand driven primarily by higher maintenance contract costs from the acquisition of Woodsville. Amortization of intangibles increased $349 thousand due to the acquisition of Woodsville. Other expenses increased $854 thousand for the first quarter 2026 compared to the first quarter 2025 primarily due to increases in software expenses. Loss on sale of premises and equipment was $134 thousand in the first quarter 2026 driven by a building sale.

Income tax expense was $3.6 million for the first quarter 2026 compared to $2.5 million for the first quarter of 2025, respectively. Our GAAP effective tax rate for the first quarter 2026 was 21.09% and 19.57% in the first quarter 2025 and the effective tax rate on core earnings (Non-GAAP) was 21.89% and 22.98%, respectively.

BACKGROUND

Bar Harbor Bankshares (NYSE American:BHB) is the parent company of its wholly-owned subsidiary, Bar Harbor Bank & Trust. Founded in 1887, Bar Harbor Bank & Trust is a true community bank serving the financial needs of its clients for over 135 years. Bar Harbor Bank & Trust provides full-service community banking with office locations in all three Northern New England states of Maine, New Hampshire and Vermont. For more information, visit www.barharbor.bank.

FORWARD-LOOKING STATEMENTS

All statements, other than statements of historical fact, included in this release that address activities, events, or developments that the Company expects, believes, or anticipates will or may occur in the future are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. When used in this release the words "believe," "anticipate," "expect," "may," "will," "assume," "should," "predict," "could," "would," "intend," "targets," "estimates," "projects," "plans," and "potential," and other similar words and expressions of the future, are intended to identify such forward-looking statements, but other statements not based on historical information may also be considered forward-looking, including statements relating to Company's balance sheet management, our credit trends, our overall credit performance, and the Company's strategic plans, objectives, and intentions. All forward-looking statements are subject to risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of the Company to differ materially from any results, performance, or achievements expressed or implied by such forward-looking statements. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from the statements, including, but not limited to: (1) changes in general business and economic conditions on a national basis and in our markets throughout Northern New England; (2) changes in consumer behavior due to political, business, and economic conditions, including ongoing armed conflicts, inflation, current or future United States government shutdowns, and concerns about liquidity; (3) the possibility that our asset quality could decline or that we experience greater loan losses than anticipated; (4) the impact of liquidity needs on our results of operations and financial condition; (5) changes in the size and nature of our competition; (6) the effect of interest rate increases on the cost of deposits; (7) unanticipated weakness in loan demand, pricing, or collectability; (8) the possibility that future credit losses are higher than currently expected due to changes in economic assumptions or adverse economic developments; (9) operational risks including, but not limited to, changes in information technology, cybersecurity incidents, fraud, natural disasters, climate change, war, terrorism, civil unrest, and future pandemics; (10) lack of strategic growth opportunities or our failure to execute on available opportunities, (11) our ability to effectively manage problem credits; (12) our ability to successfully develop new products and implement efficiency initiatives on time and with the results projected; (13) our ability to retain executive officers and key employees and their customer and community relationships; (14) regulatory, litigation, and reputational risks and the applicability of insurance coverage; (15) changes in the reliability of our vendors, internal control systems, or information systems; (16) changes in legislation or regulation and accounting principles, policies, and guidelines; (17) reductions in the market value or outflows of wealth management assets under management; (18) the impacts of tariffs, sanctions, and other trade policies of the United States and its global trading counterparts; and (19) changes in the assumptions used in making such forward-looking statements. Additional factors which could affect the forward-looking statements can be found in the Company's annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K filed with the Securities and Exchange Commission (the "SEC") and available on the SEC's website at http://www.sec.gov. The Company believes the forward-looking statements contained herein are reasonable; however, many of such risks, uncertainties, and other factors are beyond the Company's ability to control or predict and undue reliance should not be placed on any forward-looking statements, which are based on current expectations and speak only as of the date that they are made. Therefore, the Company can give no assurance that its future results will be as estimated. The Company does not intend to, and disclaims any obligation to, update or revise any forward-looking statement.

NON-GAAP FINANCIAL MEASURES

This document contains certain non-GAAP financial measures in addition to results presented in accordance with accounting principles generally accepted in the United States of America ("GAAP"). These non-GAAP measures are intended to provide the reader with additional supplemental perspectives on operating results, performance trends, and financial condition. Non-GAAP financial measures are not a substitute for GAAP measures; they should be read and used in conjunction with the Company's GAAP financial information. Because non-GAAP financial measures presented in this document are not measurements determined in accordance with GAAP and are susceptible to varying calculations, these non-GAAP financial measures, as presented, may not be comparable to other similarly titled measures presented by other companies. A reconciliation of non-GAAP financial measures to GAAP measures is provided below. In all cases, it should be understood that non-GAAP measures do not depict amounts that accrue directly to the benefit of shareholders. An item which management excludes when computing non-GAAP core earnings can be of substantial importance to the Company's results for any particular quarter or year. Each non-GAAP measure used by the Company in this report as supplemental financial data should be considered in conjunction with the Company's GAAP financial information.

The Company utilizes the non-GAAP measure of core earnings in evaluating operating trends, including components for core revenue and expense. These measures exclude amounts which the Company views as unrelated to its normalized operations, including gains/losses on securities, premises, equipment and other real estate owned, acquisition costs, restructuring costs, legal settlements, and systems conversion costs. Non-GAAP adjustments are presented net of an adjustment for income tax expense.

The Company also calculates core earnings per share based on its measure of core earnings. The Company views these amounts as important to understanding its operating trends, particularly due to the impact of accounting standards related to acquisition activity. Analysts also rely on these measures in estimating and evaluating the Company's performance. Management also believes that the computation of non-GAAP core earnings and core earnings per share may facilitate the comparison of the Company to other companies in the financial services industry. The Company also adjusts certain equity related measures to exclude intangible assets due to the importance of these measures to the investment community.

###

CONTACTS

Josephine Iannelli; EVP, Chief Financial Officer & Treasurer; (207) 288-3314

TABLE

INDEX

CONSOLIDATED FINANCIAL SCHEDULES (UNAUDITED)

Selected Financial Highlights

Balance Sheets

Loan and Deposit Analysis

Statements of Income

Statements of Income (Five Quarter Trend)

Average Yields and Costs

Average Balances

Asset Quality Analysis

I-J

Reconciliation of Non-GAAP Financial Measures (Five Quarter Trend) and Supplementary Data

BAR HARBOR BANKSHARES

SELECTED FINANCIAL HIGHLIGHTS - UNAUDITED

At or for the Quarters Ended

Mar 31,

Dec 31,

Sept 30,

Jun 30,

Mar 31,

2026

2025

0.81

0.70

0.54

0.40

0.66

0.88

0.93

0.95

0.70

0.68

32.13

31.88

31.22

30.60

30.51

22.71

22.41

21.70

22.58

22.47

32.45

31.05

30.46

29.96

29.50

0.32

0.30

1.18

1.00

0.78

0.60

1.02

1.28

1.32

1.35

1.06

1.04

1.52

1.29

1.30

0.79

1.32

1.65

1.71

1.39

1.35

10.13

8.76

6.99

5.21

8.88

11.03

11.55

12.16

9.19

9.09

14.77

12.94

10.07

7.26

12.27

16.03

16.91

17.23

12.66

12.57

3.54

3.62

3.56

3.23

3.17

56.92

57.24

56.70

62.10

62.00

4,676

4,684

4,717

4,112

4,063

4,297

4,336

3,789

3,761

598

597

598

529

514

3,585

3,606

3,584

3,153

3,124

158

159

123

3,868

3,821

3,948

3,292

3,297

538

533

521

469

466

0.03

0.04

0.03

0.01

0.96

0.94

0.95

0.92

11.50

11.37

11.04

11.40

11.50

8.42

8.27

7.94

8.67

8.73

Non-GAAP financial measure. Refer to the Reconciliation of Non-GAAP Financial Measures in tables I-J for additional information.

All performance ratios are based on average balance sheet amounts, where applicable.

Fully taxable equivalent considers the impact of tax-advantaged investment securities and loans.

Earning assets includes non-accruing loans and interest-bearing deposits with other banks. Securities are valued at amortized cost.

Current quarter annualized.

BAR HARBOR BANKSHARES

CONSOLIDATED BALANCE SHEETS - UNAUDITED

Mar 31,

Dec 31,

Sept 30,

Jun 30,

Mar 31,

2026

2025

35,595

44,947

42,743

50,948

33,802

46,620

35,890

93,971

36,087

54,329

82,215

80,837

136,714

87,035

88,131

597,977

597,424

597,810

528,690

513,961

(1,204

)

597,977

597,424

597,810

528,690

512,757

9,567

11,308

8,560

12,695

10,695

11,534

5,283

5,545

2,829

1,515

3,585,248

3,605,859

3,583,716

3,152,664

3,124,240

(34,315

)

(34,052

)

(33,940

)

(28,885

)

(28,614

)

3,550,933

3,571,807

3,549,776

3,123,779

3,095,626

58,914

58,188

58,828

52,647

51,659

141,819

119,477

15,824

16,407

16,989

3,472

3,705

89,817

96,250

95,554

83,074

82,471

30,298

29,926

31,721

23,290

23,298

87,330

74,642

73,936

75,017

73,892

4,676,228

4,683,891

4,717,252

4,112,005

4,063,226

651,282

670,786

692,780

552,074

547,401

1,152,888

1,137,730

1,137,362

931,854

930,031

649,302

635,329

647,428

542,579

551,280

493,432

464,843

488,633

370,709

405,326

920,811

912,594

981,993

894,772

862,773

3,867,715

3,821,282

3,948,196

3,291,988

3,296,811

162,297

216,818

139,956

256,441

199,982

53,420

52,825

52,229

40,620

215,717

269,643

192,185

297,061

240,602

54,859

60,425

55,916

54,096

58,502

4,138,291

4,151,350

4,196,297

3,643,145

3,595,915

537,937

532,541

520,955

468,860

467,311

4,676,228

4,683,891

4,717,252

4,112,005

4,063,226

16,742

16,702

16,689

15,322

15,317

BAR HARBOR BANKSHARES

CONSOLIDATED LOAN & DEPOSIT ANALYSIS - UNAUDITED

LOAN ANALYSIS

Organic Annualized

Growth %

Mar 31,

Dec 31,

Sept 30,

Acquired WGSB

Jun 30,

Mar 31,

Quarter

2026

2025

Balances (1)

2025

to Date

1,968,403

1,998,603

1,942,659

117,832

1,767,206

1,762,132

)

417,657

393,851

405,759

25,651

400,908

370,683

2,386,060

2,392,454

2,348,418

143,483

2,168,114

2,132,815

)

993,636

1,001,769

1,025,266

248,484

796,184

807,514

)

127,681

128,029

126,345

16,215

111,036

105,404

)

77,871

83,607

83,687

5,226

77,330

78,507

(27

)

3,585,248

3,605,859

3,583,716

413,408

3,152,664

3,124,240

Acquired Woodsville Guaranty Savings Bank (WGSB) Balances are as of August 1, 2025.

DEPOSIT ANALYSIS

Organic Annualized

Growth %

Mar 31,

Dec 31,

Sept 30,

Acquired WGSB

Jun 30,

Mar 31,

Quarter

2026

2025

Balances (1)

2025

to Date

651,282

670,786

692,780

89,274

552,074

547,401

(12

1,152,888

1,137,730

1,137,362

185,802

931,854

930,031

649,302

635,329

647,428

104,792

542,579

551,280

493,432

464,843

488,633

52,470

370,709

405,326

2,946,904

2,908,688

2,966,203

432,338

2,397,216

2,434,038

920,811

912,594

981,993

98,951

894,772

862,773

3,867,715

3,821,282

3,948,196

531,289

3,291,988

3,296,811

Acquired Woodsville Guaranty Savings Bank (WGSB) Balances are as of August 1, 2025.

BAR HARBOR BANKSHARES

CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED

Three Months Ended

March 31,

2026

2025

48,658

41,804

6,204

5,283

155

137

233

314

55,250

47,538

14,889

15,512

3,489

3,019

18,378

18,531

36,872

29,007

636

305

(57

)

36,567

28,428

4,115

3,916

4,102

3,525

(1,008

)

682

456

1,987

614

329

212

207

195

10,414

8,918

15,773

13,733

4,036

3,325

1,134

1,049

134

464

482

349

592

248

166

605

518

582

233

577

456

1,455

239

(226

)

(74

)

4,696

3,842

29,827

24,651

17,154

12,695

3,617

2,484

13,537

10,211

0.81

0.67

0.81

0.66

16,728

15,304

16,804

15,393

BAR HARBOR BANKSHARES

CONSOLIDATED STATEMENTS OF INCOME (5 Quarter Trend) - UNAUDITED

Mar 31,

Dec 31,

Sept 30,

Jun 30,

Mar 31,

2026

2025

48,658

50,164

48,426

42,726

41,804

6,204

6,327

6,355

5,474

5,283

155

235

217

212

137

233

645

924

276

314

55,250

57,371

55,922

48,688

47,538

14,889

16,083

16,419

15,511

15,512

3,489

2,671

2,544

3,282

3,019

18,378

18,754

18,963

18,793

18,531

36,872

38,617

36,959

29,895

29,007

636

305

416

3,749

528

(57

)

36,567

38,201

33,210

29,367

28,428

4,115

3,984

3,903

4,263

3,916

4,102

4,528

4,311

3,589

3,525

(1,008

)

(428

)

(4,942

)

682

485

423

605

456

1,987

695

665

602

614

329

735

962

104

212

207

326

262

425

195

10,414

10,325

10,567

4,646

8,918

15,773

16,588

15,939

14,274

13,733

4,036

3,780

3,879

3,546

3,325

1,134

1,153

1,078

1,023

1,049

134

370

(206

)

464

564

514

457

482

349

407

296

514

592

248

271

246

194

166

605

181

655

682

518

582

466

233

577

539

462

464

456

1,455

4,170

4,978

1,205

239

(226

)

725

145

(74

)

4,696

4,469

4,287

3,943

3,842

29,827

33,799

32,739

26,538

24,651

17,154

14,727

11,038

7,475

12,695

3,617

2,966

2,183

1,383

2,484

13,537

11,761

8,855

6,092

10,211

0.81

0.70

0.55

0.40

0.67

0.81

0.70

0.54

0.40

0.66

16,728

16,696

16,231

15,321

15,304

16,804

16,757

16,284

15,372

15,393

The $4.9 million loss in June 2025 includes a $4.5 million loss on corporate debt securities and $549 thousand on a matured debt security.

BAR HARBOR BANKSHARES

AVERAGE YIELDS AND COSTS (Fully Taxable Equivalent (Non-GAAP) - Annualized) - UNAUDITED

Quarters Ended

Mar 31,

Dec 31,

Sept 30,

Jun 30,

Mar 31,

2026

2025

3.90

4.53

4.49

4.68

4.55

4.05

4.03

4.14

3.86

3.80

5.68

10.72

7.71

7.20

4.78

5.68

5.74

5.88

5.76

5.58

6.13

6.34

6.45

6.41

6.57

4.64

4.75

4.42

4.14

4.22

6.90

7.27

7.23

6.98

7.03

5.50

5.59

5.60

5.48

5.42

5.27

5.36

5.23

5.16

1.30

1.39

1.42

1.44

1.41

0.56

0.54

0.64

0.71

2.28

2.43

2.59

2.75

2.77

3.41

3.53

3.64

3.91

4.11

1.91

2.01

2.12

2.28

2.31

5.62

5.43

4.04

4.85

4.61

2.19

2.20

2.27

2.51

2.52

3.08

3.16

3.09

2.72

2.64

3.54

3.62

3.56

3.23

3.17

Non-GAAP financial measure. Refer to the Reconciliation of Non-GAAP Financial Measures in tables I-J for additional information.

BAR HARBOR BANKSHARES

AVERAGE BALANCES - UNAUDITED

Quarters Ended

Mar 31,

Dec 31,

Sept 30,

Jun 30,

Mar 31,

2026

2025

24,230

56,502

81,709

23,643

27,999

643,647

644,929

631,572

591,462

587,878

11,062

8,696

11,168

11,804

11,623

2,001,851

1,954,841

1,887,267

1,766,720

1,759,321

486,295

480,529

483,380

469,816

469,331

998,862

1,021,309

963,311

804,469

820,837

127,693

126,953

120,941

109,023

104,413

3,614,701

3,583,632

3,454,899

3,150,028

3,153,902

4,293,640

4,293,759

4,179,348

3,776,937

3,781,402

36,278

40,291

38,709

29,861

29,972

(34,195

)

(33,905

)

(31,246

)

(28,786

)

(29,143

)

157,921

158,507

139,822

123,062

123,295

215,852

211,317

191,446

169,540

171,477

4,669,496

4,669,969

4,518,079

4,070,614

4,077,003

1,121,021

1,127,456

1,059,214

906,557

916,129

642,717

640,577

617,314

545,304

547,672

469,496

473,574

432,952

392,034

401,268

922,180

939,353

961,054

883,491

853,105

3,155,414

3,180,960

3,070,534

2,727,386

2,718,174

251,985

195,139

250,110

271,410

265,780

3,407,399

3,376,099

3,320,644

2,998,796

2,983,954

659,506

705,245

647,981

545,308

560,310

60,814

56,025

46,962

57,268

66,589

4,127,719

4,137,369

4,015,587

3,601,372

3,610,853

541,777

532,600

502,492

469,242

466,150

4,669,496

4,669,969

4,518,079

4,070,614

4,077,003

Total average interest-bearing deposits with other banks is net of Federal Reserve daily cash letter.

Average balances for available-for-sale debt securities are based on amortized cost.

Total average loans include non-accruing loans and loans held for sale.

BAR HARBOR BANKSHARES

ASSET QUALITY ANALYSIS - UNAUDITED

At or for the Quarters Ended

Mar 31,

Dec 31,

Sept 30,

Jun 30,

Mar 31,

2026

2025

12,620

1,497

697

1,033

1,091

1,139

1,113

1,221

1,344

1,354

8,206

7,719

6,541

6,411

4,557

1,176

1,265

1,051

944

1,084

23,141

11,594

9,510

9,732

8,086

1,329

2,203

2,403

4,960

24,470

13,797

11,713

12,135

13,046

0.65

0.32

0.27

0.31

0.26

0.52

0.29

0.25

0.30

0.32

34,052

33,940

28,885

28,614

28,744

(97

)

(318

)

(353

)

(266

)

(84

)

(42

)

(304

)

(316

)

(257

)

(73

)

1,622

305

416

3,749

528

(57

)

34,315

34,052

33,940

28,885

28,614

0.96

0.94

0.95

0.92

148

294

357

297

354

(224

)

(256

)

(204

)

(37

)

(112

)

(85

)

(56

)

(59

)

(40

)

(42

)

(304

)

(316

)

(257

)

(73

)

0.03

0.04

0.03

0.01

0.03

0.02

0.01

1,204

568

636

(1,204

)

1,204

BAR HARBOR BANKSHARES

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES AND SUPPLEMENTARY DATA - UNAUDITED

At or for the Quarters Ended

Mar 31,

Dec 31,

Sept 30,

Jun 30,

Mar 31,

2026

2025

(R)

13,537

11,761

8,855

6,092

10,211

428

(41

)

4,942

134

370

(206

)

3,954

1,455

4,170

4,978

1,205

239

(392

)

(1,225

)

(2,141

)

(1,492

)

(80

)

1,197

3,743

6,544

4,658

249

(A)

14,734

15,504

15,399

10,750

10,460

(B)

36,872

38,617

36,959

29,895

29,007

10,414

10,325

10,567

4,646

8,918

47,286

48,942

47,526

34,541

37,925

428

(41

)

4,942

(C)

47,286

49,370

47,485

39,483

37,925

29,827

33,799

32,739

26,538

24,651

(134

)

(370

)

206

)

(90

)

(1,455

)

(4,170

)

(4,978

)

(1,205

)

(239

)

(1,589

)

(4,540

)

(4,772

)

(1,208

)

(329

)

(D)

28,238

29,259

27,967

25,330

24,322

47,286

48,942

47,526

34,541

37,925

29,827

33,799

32,739

26,538

24,651

(S)

17,459

15,143

14,787

8,003

13,274

47,286

49,370

47,485

39,483

37,925

28,238

29,259

27,967

25,330

24,322

(U)

19,048

20,111

19,518

14,153

13,603

4,294

4,179

3,777

3,781

4,669

4,670

4,518

4,071

4,077

542

533

499

469

466

384

374

360

346

343

380

374

362

346

343

4,519

4,526

4,563

3,989

3,940

BAR HARBOR BANKSHARES

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES AND SUPPLEMENTARY DATA - UNAUDITED

At or for the Quarters Ended

Mar 31,

Dec 31,

Sept 30,

Jun 30,

Mar 31,

2026

2025

(K)

16,742

16,702

16,689

15,322

15,317

(L)

16,804

16,757

16,284

15,372

15,393

(A/L)

0.88

0.93

0.95

0.70

0.68

(I/K)

22.71

22.41

21.70

22.58

22.47

(I/J)

8.42

8.27

7.94

8.67

8.73

1.18

1.00

0.78

0.60

1.02

(A/F)

1.28

1.32

1.35

1.06

1.04

(S/F)

1.52

1.29

1.30

0.79

1.32

(U/F)

1.65

1.71

1.39

1.35

10.13

8.76

6.99

5.21

8.88

(A/G)

11.03

11.55

12.16

9.19

9.09

(R+Q)/H

14.77

12.94

10.07

7.26

12.27

(A+Q)/H

16.03

16.91

17.23

12.66

12.57

(D-OQ)/(C+N)

56.92

57.24

56.70

62.10

62.00

(B+P)/E

3.54

3.62

3.56

3.23

3.17

(N)

1,044

766

738

706

717

(O)

146

(22

)

158

141

131

(P)

554

595

574

560

568

(Q)

582

466

233

Assumes a marginal tax rate of 24.65% for the first quarter 2026 and third and fourth quarters of 2025 and 24.26% in the first and second quarters of 2025.

Non-GAAP financial measure.

Tangible shareholders' equity is computed by taking total shareholders' equity less the intangible assets at period-end. Tangible assets is computed by taking total assets less the intangible assets at period-end.

All performance ratios are based on average balance sheet amounts, where applicable.

Efficiency ratio is computed by dividing core non-interest expense net of franchise taxes and intangible amortization divided by core revenue on a fully taxable equivalent basis.

The $4.9 million loss in the second quarter 2025 includes a $4.5 million loss on corporate debt securities and $549 thousand on a matured debt security.

SOURCE: Bar Harbor Bank & Trust