Form 8-K
8-K — BAR HARBOR BANKSHARES
Accession: 0001104659-26-118161
Filed: 2026-10-22
Period: 2026-10-22
CIK: 0000743367
SIC: 6022 (STATE COMMERCIAL BANKS)
Item: Results of Operations and Financial Condition
Item: Regulation FD Disclosure
Item: Financial Statements and Exhibits
Documents
8-K — bhb-20261022x8k.htm (Primary)
EX-99.1 (bhb-ex99d1.htm)
GRAPHIC (bhb-ex99d1001.jpg)
XML — IDEA: XBRL DOCUMENT (R1.htm)
8-K
8-K (Primary)
Filename: bhb-20261022x8k.htm · Sequence: 1
BAR HARBOR BANKSHARES_October 22, 2026
0000743367false00007433672026-10-222026-10-22
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): October 22, 2026
BAR HARBOR BANKSHARES
(Exact Name of Registrant as Specified in its Charter)
Maine
001-13349
01-0393663
(State or Other Jurisdiction
of Incorporation)
(Commission File No.)
(I.R.S. Employer
Identification No.)
PO Box 400
04609-0400
82 Main Street
(Zip Code)
Bar Harbor, Maine
(Address of Principal Executive Offices)
Registrant’s telephone number, including area code: (207) 288-3314
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act
Title of each class
Trading Symbol
Name of each exchange on which registered
Common Stock, par value $2.00 per share
BHB
NYSE American
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On October 22, 2026, Bar Harbor Bankshares issued a press release reporting its financial results for the quarter ended September 30, 2026, the full text of which is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.
Item 7.01 Regulation FD Disclosure.
On October 22, 2026, Bar Harbor Bankshares announced that its Board of Directors declared a quarterly cash dividend of $0.34 per share to shareholders of record at the close of business on November 19, 2026 and payable on December 18, 2026.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.
Description
99.1
Press Release dated October 22, 2026
104
Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
Bar Harbor Bankshares
October 22, 2026
By:
/s/ Curtis C. Simard
Curtis C. Simard
President and CEO
EX-99.1
EX-99.1
Filename: bhb-ex99d1.htm · Sequence: 2
Exhibit 99.1
Bar Harbor Bankshares Reports Third Quarter 2026 Results; Declares Dividend
BAR HARBOR, MAINE – October 22, 2026 - Bar Harbor Bankshares (NYSE American: BHB) (the “Company”) reported third quarter 2026 GAAP net income of $16.1 million, or $0.96 per diluted share, and core earnings (Non-GAAP) of $17.5 million, or $1.04 per diluted share, compared to GAAP net income of $15.2 million, or $0.91 per diluted share, and core earnings (Non-GAAP) of $15.4 million, or $0.92 per diluted share, in the second quarter of 2026.
THIRD QUARTER 2026 HIGHLIGHTS (all comparisons to second quarter 2026, unless otherwise noted)
• Net interest margin of 3.77%, compared to 3.61%
• 1.35% return on assets; 1.47% core return on assets (Non-GAAP)
• 11.69% return on equity; 12.70% core return on equity (Non-GAAP)
• 55.26% efficiency ratio (Non-GAAP), compared to 55.76%
Bar Harbor Bankshares’ President and Chief Executive Officer, Curtis C. Simard, stated, “We are pleased to announce another strong quarter of financial results. Our success reflects our commitment to performance metrics in all our core businesses, centered in exceptional service and targeted calling. Our Retail teams opened more than 1,600 new customer accounts during the quarter, demonstrating this calling culture and the effectiveness of our execution-focused approach to banking. Total deposits grew 9% on an annualized basis contributing to a lower overall cost of funds, reduced reliance on wholesale borrowings and increased profitability. Wealth management continues to be a significant contributor and meaningful part of our organization. This has never been more true as we are adding seasoned recruits to our commercial and industrial lending team who, in addition to building a robust pipeline, possess the trusted status with customers for a natural wealth referral. Our consistent financial performance reflects the disciplined execution of our strategy, the dedication of our employees and our unwavering focus on long-term shareholder value.”
DIVIDEND DECLARED
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 November 19, 2026, payable on December 18, 2026. The dividend equates to a 3.52% annualized yield based on the $38.69 closing share price of the Company’s common stock on September 30, 2026, the last trading day of the third quarter 2026.
FINANCIAL CONDITION (Quarter results for September 30, 2026 compared to June 30, 2026)
Total assets decreased slightly to $4.7 billion at the end of the third quarter 2026. The decrease of less than 1% was primarily due to lower cash balances and a decrease in available-for-sale debt securities.
Total cash and cash equivalents were $74.8 million at the end of the third quarter 2026, compared to $104.4 million at the end of the second quarter 2026. Interest-earning deposits with other banks decreased to $37.8 million at the end of the third quarter 2026, compared to $58.1 million at the end of the second quarter 2026. The decrease in cash and cash equivalents is primarily driven by paydowns of wholesale funds.
Available-for-sale debt securities were $581.3 million compared to $601.8 million at the end of the second quarter 2026. Portfolio unrealized losses were $72.9 million at quarter-end compared to $45.0 million at the end of the second quarter 2026, the increase was driven by the current interest rate environment. During the quarter there were purchases of $31.3 million, paydowns and calls of $22.8 million and net accretion of $420 thousand. The quarter-to-date weighted average yield of the securities portfolio was 4.10% compared to 4.06% at the end of the second quarter 2026. As of the third quarter 2026 and the second quarter 2026, our securities portfolio had an average life of 8.0 years and 7.2 years respectively, with an effective duration of 5.5 years and 5.2 years, respectively. At the end of the third quarter 2026, all securities remain classified as available for sale.
Federal Home Loan Bank stock decreased $5.5 million to $8.0 million at the end of the third quarter 2026 compared to $13.4 million at the end of the second quarter 2026, primarily driven by the decrease in wholesale borrowings.
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Total loans were remained steady at $3.6 billion in the third quarter 2026 as well as the second quarter 2026. Commercial real estate loans increased $21.9 million driven by $55.1 million in originations during the quarter, partially offset by $33.7 million in payoffs during the quarter. Commercial and industrial loans decreased $21.6 million and included $36.0 million in payoffs offset in part by $12.3 million of originations during the quarter. Residential real estate loans decreased $9.6 million during the quarter due to $31.0 million in payoffs and $2.9 million in paydowns, partially offset by $18.5 million in originations. Loans held for sale were $10.7 million in the third quarter 2026 compared to $10.2 million in the second quarter 2026 as we originated $36.8 million in loans held for sale and sold $35.5 million in loans during the quarter.
The allowance for credit losses (“ACL”) on loans was $31.8 million at the end of the third quarter 2026, compared to $32.2 million at the end of the second quarter 2026. Charge-offs were minimal with a net charge-off to average loans ratio of 0.03% for the third quarter 2026.
Premises and equipment were $61.4 million at the end of the third quarter 2026 compared to $61.2 million at the end of the second quarter 2026 due to renovation projects. Other real estate owned decreased $1.0 million in the third quarter 2026 to $7.1 million due to the further write-down of one commercial property.
Total deposits increased $84.0 million to $3.9 billion at the end of the third quarter 2026. The increase was driven by a $107.2 million increase in interest-bearing demand deposits and a $24.6 million increase in non-interest-bearing demand deposits in the third quarter 2026. Savings deposits increased $7.6 million in the third quarter 2026 and money market deposits increased $7.4 million in the third quarter 2026. Growth in non-maturity deposits included $31.7 million in new customer deposits. Time deposits decreased $62.8 million driven primarily by a $59.0 million reduction in brokered deposits.
Total borrowings decreased $123.7 million in the third quarter 2026 to $157.4 million compared to $281.2 million in the second quarter 2026. The decrease was driven by paydowns of wholesale borrowings from loan payoffs as well as a $20.0 million subordinated debt redemption.
The Company's book value per share was $31.95 at the end of the third quarter 2026 compared to $32.80 at the end of the second quarter 2026. Tangible book value per share (Non-GAAP) was $22.61 at the end of the third quarter 2026, compared to $23.43 at the end of the second quarter 2026.
RESULTS OF OPERATIONS (Quarter results for September 30, 2026 compared to September 30, 2025)
The net interest margin was 3.77% in the third quarter 2026 compared to 3.56% in the same quarter 2025. As loan balances grew year-over-year the yield on loans expanded 4 basis points to 5.64% compared to 5.60% in the same period of 2025. Interest-bearing deposit costs decreased year-over-year to 1.87% compared to 2.12% in the same period of 2025.
Total interest and dividend income increased by 4% or $2.5 million to $58.4 million in the third quarter 2026 compared to $55.9 million in the third quarter 2025. Yields on earning assets grew to 5.39% in the third quarter 2026 compared to 5.36% in the third quarter 2025. The yield on available-for-sale debt securities decreased to 4.10% in the third quarter 2026 compared to 4.14% in the same period of 2025. The loan yield grew to 5.64% in the third quarter 2026 compared to 5.60% in the same period of 2025 driven by residential loan yield expansion to 4.81% for the third quarter 2026 from 4.42% in the third quarter of 2025. Total loan yield growth was partially offset by a decrease in the commercial and industrial yield to 6.11% for the third quarter 2026 from 6.45% in the third quarter 2025 driven by payoffs.
Total interest expense decreased $1.3 million in the third quarter 2026 compared to the third quarter 2025. Deposit costs were down $1.3 million year-over-year as the cost of interest-bearing deposits decreased to 1.87% in the third quarter 2026 from 2.12% in the same period of 2025. Borrowing costs increased $34 thousand, or 1.3% year-over-year.
The provision for credit losses on loans in the third quarter 2026 was a recapture of $167 thousand compared to a $3.7 million provision in the same period of 2025. The recapture was primarily due to the full payoff of a PCD relationship that previously carried significant reserves. Net charge-offs remained low at $303 thousand in the third quarter of 2026 compared to $316 thousand in the third quarter of 2025. The allowance for credit losses to total loans coverage ratio for the third quarter 2026 remains adequately reserved and was 0.88% compared to 0.95% in the third quarter of 2025.
Non-interest income was $10.8 million in the third quarter 2026 compared to $10.6 million in the same quarter 2025. Trust and investment management fee income increased $283 thousand or 7% to $4.2 million in the third quarter 2026 compared to $3.9 million in the third quarter 2025 as assets under management grew 2.4% over the same periods. Customer service fees increased $255 thousand or 6% during the quarter to $4.6 million compared to $4.3 million in the third quarter 2025. Mortgage banking income increased to $766 thousand in the third quarter of 2026 compared to $423 thousand in the third quarter 2025 driven by higher gains due to the interest rate
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environment. The increases were offset in part by customer derivative income decreasing to $484 thousand from $962 thousand in the third quarter 2025 due to lower customer swap volume.
Non-interest expenses decreased $1.4 million to $31.4 million in the third quarter 2026 compared to $32.7 million in the third quarter 2025. The decrease was due to acquisition expenses in the prior year. Salaries and employee benefit costs increased 3% to $16.4 million in the third quarter 2026 compared to $15.9 million in the third quarter 2025 driven by cost-of-living adjustments and increased full-time equivalents year-over-year. Occupancy and equipment increased $319 thousand driven primarily by higher operating costs due to the Woodsville acquisition. Amortization of intangible assets increased $116 thousand, reflecting incremental amortization associated with the Woodsville acquisition. Other expenses increased $1.2 million for the third quarter 2026 compared to the third quarter 2025 primarily due the aforementioned $1.0 million write-down on other real estate owned.
Income tax expense was $4.3 million for the third quarter 2026 compared to $2.2 million for the third quarter of 2025. Our GAAP effective tax rate for the third quarter 2026 was 21.0% compared to 19.8% in the third quarter 2025.
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 interest rates and the cost of deposits; (2) changes in general business and economic conditions on a national basis and in our markets throughout Northern New England; (3) changes in consumer behavior due to political, business, and economic conditions, including ongoing armed conflicts, inflation, future United States government shutdowns, and concerns about liquidity; (4) the possibility that our asset quality could decline or that we experience greater loan losses than anticipated; (5) the impact of liquidity needs on our results of operations and financial condition; (6) changes in the size and nature of our competition; (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.
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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.
###
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CONTACTS
Josephine Iannelli; EVP, Chief Financial Officer & Treasurer; (207) 288-3314
TABLE
INDEX
CONSOLIDATED FINANCIAL SCHEDULES (UNAUDITED)
A
Selected Financial Highlights
B
Balance Sheets
C
Loan and Deposit Analysis
D
Statements of Income
E
Statements of Income (Five Quarter Trend)
F
Average Yields and Costs
G
Average Balances
H
Asset Quality Analysis
I-J
Reconciliation of Non-GAAP Financial Measures (Five Quarter Trend) and Supplementary Data
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BAR HARBOR BANKSHARES
SELECTED FINANCIAL HIGHLIGHTS - UNAUDITED
At or for the Quarters Ended
Sep 30,
Jun 30,
Mar 31,
Dec 31,
Sept 30,
2026
2026
2026
2025
2025
PER SHARE DATA
Net earnings, diluted
$
0.96
$
0.91
$
0.81
$
0.70
$
0.54
Core earnings, diluted (1)
1.04
0.92
0.88
0.93
0.95
Total book value
31.95
32.80
32.13
31.88
31.22
Tangible book value (1)
22.61
23.43
22.71
22.41
21.70
Market price at period end
38.69
37.76
32.45
31.05
30.46
Dividends
0.34
0.34
0.32
0.32
0.32
PERFORMANCE RATIOS (2)
Return on assets
1.35
%
1.31
%
1.18
%
1.00
%
0.78
%
Core return on assets (1)
1.47
1.33
1.28
1.32
1.35
Pre-tax, pre-provision return on assets (1)
1.69
1.76
1.52
1.29
1.30
Core pre-tax, pre-provision return on assets (1)
1.85
1.79
1.65
1.71
1.71
Return on equity
11.69
11.16
10.13
8.76
6.99
Core return on equity (1)
12.70
11.30
11.03
11.55
12.16
Return on tangible equity (1)
16.84
16.11
14.77
12.94
10.07
Core return on tangible equity (1)
18.27
16.31
16.03
16.91
17.23
Net interest margin, fully taxable equivalent (1) (3)
3.77
3.61
3.54
3.62
3.56
Efficiency ratio (1)
55.26
55.76
56.92
57.24
56.70
FINANCIAL DATA (In millions)
Total assets
$
4,704
$
4,743
$
4,676
$
4,684
$
4,717
Total earning assets (4)
4,324
4,343
4,297
4,297
4,336
Total available-for-sale debt securities
581
602
598
597
598
Total loans
3,614
3,614
3,585
3,606
3,584
Allowance for credit losses
32
32
34
34
34
Total goodwill and intangible assets
156
157
158
158
159
Total deposits
3,938
3,854
3,868
3,821
3,948
Total shareholders' equity
536
550
538
533
521
Net income
16
15
14
12
9
Core earnings (1)
17
15
15
16
15
ASSET QUALITY AND CONDITION RATIOS
Net charge-offs (recoveries)(5)/average loans
0.03
%
0.37
%
—
%
0.03
%
0.04
%
Allowance for credit losses on loans/total loans
0.88
0.89
0.96
0.94
0.95
Loans/deposits
92
94
93
94
91
Shareholders' equity to total assets
11.39
11.59
11.50
11.37
11.04
Tangible shareholders' equity to tangible assets
8.34
8.56
8.42
8.27
7.94
(1) Non-GAAP financial measure. Refer to the Reconciliation of Non-GAAP Financial Measures in tables I-J for additional information.
(2) All performance ratios are based on average balance sheet amounts, where applicable.
(3) Fully taxable equivalent considers the impact of tax-advantaged investment securities and loans.
(4) Earning assets includes non-accruing loans and interest-bearing deposits with other banks. Securities are valued at amortized cost.
(5) Current quarter annualized.
A
BAR HARBOR BANKSHARES
CONSOLIDATED BALANCE SHEETS - UNAUDITED
Sep 30,
Jun 30,
Mar 31,
Dec 31,
Sept 30,
(in thousands)
2026
2026
2026
2025
2025
Assets
Cash and due from banks
$
37,039
$
46,270
$
35,595
$
44,947
$
42,743
Interest-earning deposits with other banks
37,778
58,118
46,620
35,890
93,971
Total cash and cash equivalents
74,817
104,388
82,215
80,837
136,714
Available-for-sale debt securities
581,297
601,772
597,977
597,424
597,810
Federal Home Loan Bank stock
7,968
13,423
9,567
11,308
8,560
Loans held for sale
10,740
10,203
11,534
5,283
5,545
Total loans
3,613,632
3,614,180
3,585,248
3,605,859
3,583,716
Less: Allowance for credit losses on loans
(31,761)
(32,231)
(34,315)
(34,052)
(33,940)
Net loans
3,581,871
3,581,949
3,550,933
3,571,807
3,549,776
Premises and equipment, net
61,407
61,170
58,914
58,188
58,828
Other real estate owned
7,146
8,170
—
—
—
Goodwill
141,819
141,819
141,819
141,819
141,819
Other intangible assets
14,659
15,242
15,824
16,407
16,989
Cash surrender value of bank-owned life insurance
89,420
88,728
89,817
96,250
95,554
Deferred tax asset, net
36,892
28,859
30,298
29,926
31,721
Other assets
95,828
86,779
87,330
74,642
73,936
Total assets
$
4,703,864
$
4,742,502
$
4,676,228
$
4,683,891
$
4,717,252
Liabilities and shareholders' equity
Non-interest bearing demand
$
702,668
$
678,081
$
651,282
$
670,786
$
692,780
Interest-bearing demand
1,248,282
1,141,043
1,152,888
1,137,730
1,137,362
Savings
642,937
635,316
649,302
635,329
647,428
Money market
489,193
481,815
493,432
464,843
488,633
Time
854,869
917,694
920,811
912,594
981,993
Total deposits
3,937,949
3,853,949
3,867,715
3,821,282
3,948,196
Senior borrowings
123,798
227,541
162,297
216,818
139,956
Subordinated borrowings
33,620
53,620
53,420
52,825
52,229
Total borrowings
157,418
281,161
215,717
269,643
192,185
Other liabilities
72,888
57,840
54,859
60,425
55,916
Total liabilities
4,168,255
4,192,950
4,138,291
4,151,350
4,196,297
Total shareholders’ equity
535,609
549,552
537,937
532,541
520,955
Total liabilities and shareholders’ equity
$
4,703,864
$
4,742,502
$
4,676,228
$
4,683,891
$
4,717,252
Net shares outstanding
16,766
16,754
16,742
16,702
16,689
B
BAR HARBOR BANKSHARES
CONSOLIDATED LOAN & DEPOSIT ANALYSIS - UNAUDITED
LOAN ANALYSIS
Annualized
Growth %
Sep 30,
Jun 30,
Mar 31,
Dec 31,
Sept 30,
Quarter
Year
(in thousands)
2026
2026
2026
2025
2025
to Date
to Date
Commercial real estate
$
2,010,609
$
1,988,695
$
1,968,403
$
1,998,603
$
1,942,659
4
1
%
Commercial and industrial
411,766
433,371
417,657
393,851
405,759
(20)
6
Total commercial loans
2,422,375
2,422,066
2,386,060
2,392,454
2,348,418
—
2
Residential real estate
973,648
983,274
993,636
1,001,769
1,025,266
(4)
(4)
Consumer
135,243
132,570
127,681
128,029
126,345
8
8
Tax exempt and other
82,366
76,270
77,871
83,607
83,687
32
(2)
Total loans
$
3,613,632
$
3,614,180
$
3,585,248
$
3,605,859
$
3,583,716
—
%
—
%
DEPOSIT ANALYSIS
Annualized
Growth %
Sep 30,
Jun 30,
Mar 31,
Dec 31,
Sept 30,
Quarter
Year
(in thousands)
2026
2026
2026
2025
2025
to Date
to Date
Non-interest bearing demand
$
702,668
$
678,081
$
651,282
$
670,786
$
692,780
15
%
6
%
Interest-bearing demand
1,248,282
1,141,043
1,152,888
1,137,730
1,137,362
38
13
Savings
642,937
635,316
649,302
635,329
647,428
5
2
Money market
489,193
481,815
493,432
464,843
488,633
6
7
Total non-maturity deposits
3,083,080
2,936,255
2,946,904
2,908,688
2,966,203
20
8
Time
854,869
917,694
920,811
912,594
981,993
(27)
(8)
Total deposits
$
3,937,949
$
3,853,949
$
3,867,715
$
3,821,282
$
3,948,196
9
%
4
%
1.
C
BAR HARBOR BANKSHARES
CONSOLIDATED STATEMENTS OF INCOME – UNAUDITED
Three Months Ended
Nine Months Ended
September 30,
September 30,
(in thousands, except per share data)
2026
2025
2026
2025
Interest and dividend income
Loans
$
51,111
$
48,426
$
148,920
$
132,956
Securities and other
6,527
6,355
19,050
17,112
Federal Home Loan Bank stock
193
217
531
566
Interest-earning deposits with other banks
561
924
1,047
1,514
Total interest and dividend income
58,392
55,922
169,548
152,148
Interest expense
Deposits
15,103
16,419
44,630
47,442
Borrowings
2,578
2,544
9,416
8,845
Total interest expense
17,681
18,963
54,046
56,287
Net interest income
40,711
36,959
115,502
95,861
Provision for credit losses on available-for-sale debt securities
—
—
—
636
Provision (benefit) for credit losses on loans
(167)
3,749
1,388
4,220
Net interest income after provision for credit losses
40,878
33,210
114,114
91,005
Non-interest income
Trust and investment management fee income
4,186
3,903
12,878
12,082
Customer service fees
4,566
4,311
13,383
11,425
(Loss) gain on available-for-sale debt securities, net
69
41
(964)
(4,901)
Mortgage banking income
766
423
2,189
1,484
Bank-owned life insurance income
693
665
4,097
1,881
Customer derivative income
484
962
889
1,278
Other income
83
262
521
882
Total non-interest income
10,847
10,567
32,993
24,131
Non-interest expense
Salaries and employee benefits
16,393
15,939
48,999
43,946
Occupancy and equipment
4,198
3,879
12,526
10,750
Depreciation
1,194
1,078
3,416
3,150
Loss (gain) on premises and equipment, net
47
(206)
181
(113)
Outside services
762
514
1,754
1,453
Professional services
503
296
1,240
1,402
Communication
207
246
666
606
Marketing
705
655
1,880
1,855
Amortization of intangible assets
582
466
1,746
932
FDIC assessment
528
462
1,642
1,382
Acquisition, conversion and other expenses
610
4,978
2,029
6,422
Provision for unfunded commitments
180
145
(696)
71
Other expenses
5,458
4,287
14,993
12,072
Total non-interest expense
31,367
32,739
90,376
83,928
Income before income taxes
20,358
11,038
56,731
31,208
Income tax expense
4,269
2,183
11,884
6,050
Net income
$
16,089
$
8,855
$
44,847
$
25,158
Earnings per share:
Basic
$
0.96
$
0.55
$
2.68
$
1.61
Diluted
0.96
0.54
2.67
1.60
Weighted average shares outstanding:
Basic
16,765
16,231
16,748
15,622
Diluted
16,828
16,284
16,814
15,685
D
BAR HARBOR BANKSHARES
CONSOLIDATED STATEMENTS OF INCOME (5 Quarter Trend) - UNAUDITED
Sep 30,
Jun 30,
Mar 31,
Dec 31,
Sept 30,
(in thousands, except per share data)
2026
2026
2026
2025
2025
Interest and dividend income
Loans
$
51,111
$
49,151
$
48,658
$
50,164
$
48,426
Securities and other
6,527
6,319
6,204
6,327
6,355
Federal Home Loan Bank stock
193
183
155
235
217
Interest-earning deposits with other banks
561
253
233
645
924
Total interest and dividend income
58,392
55,906
55,250
57,371
55,922
Interest expense
Deposits
15,103
14,638
14,889
16,083
16,419
Borrowings
2,578
3,349
3,489
2,671
2,544
Total interest expense
17,681
17,987
18,378
18,754
18,963
Net interest income
40,711
37,919
36,872
38,617
36,959
Provision for credit losses on available-for-sale debt securities
—
—
—
—
—
Provision (benefit) for credit losses on loans
(167)
1,250
305
416
3,749
Net interest income after provision for credit losses
40,878
36,669
36,567
38,201
33,210
Non-interest income
Trust and investment management fee income
4,186
4,577
4,115
3,984
3,903
Customer service fees
4,566
4,715
4,102
4,528
4,311
(Loss) gain on available-for-sale debt securities, net
69
(25)
(1,008)
(428)
41
Mortgage banking income
766
741
682
485
423
Bank-owned life insurance income
693
1,417
1,987
695
665
Customer derivative income
484
76
329
735
962
Other income
83
231
207
326
262
Total non-interest income
10,847
11,732
10,414
10,325
10,567
Non-interest expense
Salaries and employee benefits
16,393
16,833
15,773
16,588
15,939
Occupancy and equipment
4,198
4,292
4,036
3,780
3,879
Depreciation
1,194
1,088
1,134
1,153
1,078
Loss (gain) on premises and equipment, net
47
—
134
370
(206)
Outside services
762
528
464
564
514
Professional services
503
388
349
407
296
Communication
207
211
248
271
246
Marketing
705
570
605
181
655
Amortization of intangible assets
582
582
582
582
466
FDIC assessment
528
537
577
539
462
Acquisition, conversion and other expenses
610
(36)
1,455
4,170
4,978
Provision for unfunded commitments
180
(650)
(226)
725
145
Other expenses
5,458
4,839
4,696
4,469
4,287
Total non-interest expense
31,367
29,182
29,827
33,799
32,739
Income before income taxes
20,358
19,219
17,154
14,727
11,038
Income tax expense
4,269
3,998
3,617
2,966
2,183
Net income
$
16,089
$
15,221
$
13,537
$
11,761
$
8,855
Earnings per share:
Basic
$
0.96
$
0.91
$
0.81
$
0.70
$
0.55
Diluted
0.96
0.91
0.81
0.70
0.54
Weighted average shares outstanding:
Basic
16,765
16,751
16,728
16,696
16,231
Diluted
16,828
16,808
16,804
16,757
16,284
E
BAR HARBOR BANKSHARES
AVERAGE YIELDS AND COSTS (Fully Taxable Equivalent (Non-GAAP) - Annualized) - UNAUDITED
Quarters Ended
Sep 30,
Jun 30,
Mar 31,
Dec 31,
Sept 30,
2026
2026
2026
2025
2025
Earning assets
Interest-earning deposits with other banks
3.82
%
3.92
%
3.90
%
4.53
%
4.49
%
Available-for-sale debt securities
4.10
4.06
4.05
4.03
4.14
Federal Home Loan Bank stock
7.96
6.33
5.68
10.72
7.71
Loans:
Commercial real estate
5.82
5.72
5.68
5.74
5.88
Commercial and industrial
6.11
6.17
6.13
6.34
6.45
Residential real estate
4.81
4.62
4.64
4.75
4.42
Consumer
7.28
7.05
6.90
7.27
7.23
Total loans
5.64
5.52
5.50
5.59
5.60
Total earning assets
5.39
%
5.29
%
5.27
%
5.36
%
5.36
%
Funding liabilities
Deposits:
Interest-bearing demand
1.36
%
1.32
%
1.30
%
1.39
%
1.42
%
Savings
0.52
0.50
0.56
0.54
0.64
Money market
2.37
2.33
2.28
2.43
2.59
Time
3.27
3.32
3.41
3.53
3.64
Total interest-bearing deposits
1.87
1.88
1.91
2.01
2.12
Borrowings
4.98
5.05
5.62
5.43
4.04
Total interest-bearing liabilities
2.05
%
2.13
%
2.19
%
2.20
%
2.27
%
Net interest spread
3.34
3.16
3.08
3.16
3.09
Net interest margin, fully taxable equivalent(1)
3.77
3.61
3.54
3.62
3.56
(1) Non-GAAP financial measure. Refer to the Reconciliation of Non-GAAP Financial Measures in tables I-J for additional information.
F
BAR HARBOR BANKSHARES
AVERAGE BALANCES - UNAUDITED
Quarters Ended
Sep 30,
Jun 30,
Mar 31,
Dec 31,
Sept 30,
(in thousands)
2026
2026
2026
2025
2025
Assets
Interest-earning deposits with other banks (1)
$
58,265
$
25,896
$
24,230
$
56,502
$
81,709
Available-for-sale debt securities (2)
654,636
647,755
643,647
644,929
631,572
Federal Home Loan Bank stock
9,619
11,592
11,062
8,696
11,168
Loans:
Commercial real estate
1,990,307
1,975,080
2,001,851
1,954,841
1,887,267
Commercial and industrial
504,422
492,195
486,295
480,529
483,380
Residential real estate
991,993
993,933
998,862
1,021,309
963,311
Consumer
133,538
130,890
127,693
126,953
120,941
Total loans (3)
3,620,260
3,592,098
3,614,701
3,583,632
3,454,899
Total earning assets
4,342,780
4,277,341
4,293,640
4,293,759
4,179,348
Cash and due from banks
39,817
37,089
36,278
40,291
38,709
Allowance for credit losses
(32,194)
(33,242)
(34,195)
(33,905)
(31,246)
Goodwill and other intangible assets
156,762
157,345
157,921
158,507
139,822
Other assets
223,750
215,460
215,852
211,317
191,446
Total assets
$
4,730,915
$
4,653,993
$
4,669,496
$
4,669,969
$
4,518,079
Liabilities and shareholders' equity
Deposits:
Interest-bearing demand
$
1,215,024
$
1,119,195
$
1,121,021
$
1,127,456
$
1,059,214
Savings
640,517
640,852
642,717
640,577
617,314
Money market
473,298
463,296
469,496
473,574
432,952
Time
883,465
902,363
922,180
939,353
961,054
Total interest-bearing deposits
3,212,304
3,125,706
3,155,414
3,180,960
3,070,534
Borrowings
205,558
265,929
251,985
195,139
250,110
Total interest-bearing liabilities
3,417,862
3,391,635
3,407,399
3,376,099
3,320,644
Non-interest bearing demand deposits
696,843
657,470
659,506
705,245
647,981
Other liabilities
70,114
57,702
60,814
56,025
46,962
Total liabilities
4,184,819
4,106,807
4,127,719
4,137,369
4,015,587
Total shareholders' equity
546,096
547,186
541,777
532,600
502,492
Total liabilities and shareholders' equity
$
4,730,915
$
4,653,993
$
4,669,496
$
4,669,969
$
4,518,079
(1) Total average interest-bearing deposits with other banks is net of Federal Reserve daily cash letter.
(2) Average balances for available-for-sale debt securities are based on amortized cost.
(3) Total average loans include non-accruing loans and loans held for sale.
G
BAR HARBOR BANKSHARES
ASSET QUALITY ANALYSIS - UNAUDITED
At or for the Quarters Ended
Sep 30,
Jun 30,
Mar 31,
Dec 31,
Sept 30,
(in thousands)
2026
2026
2026
2025
2025
NON-PERFORMING ASSETS
Non-accruing loans:
Commercial real estate
$
1,034
$
902
$
12,620
$
1,497
$
697
Commercial and industrial
817
1,003
1,139
1,113
1,221
Residential real estate
8,266
8,314
8,206
7,719
6,541
Consumer
1,114
1,199
1,176
1,265
1,051
Total non-accruing loans
11,231
11,418
23,141
11,594
9,510
Non-performing available-for-sale debt securities
1,329
1,329
1,329
2,203
2,203
Other real estate owned
7,146
8,170
—
—
—
Total non-performing assets
$
19,706
$
20,917
$
24,470
$
13,797
$
11,713
Total non-accruing loans/total loans
0.31
%
0.32
%
0.65
%
0.32
%
0.27
%
Total non-performing assets/total assets
0.42
0.44
0.52
0.29
0.25
PROVISION AND ALLOWANCE FOR CREDIT LOSSES ON LOANS
Balance at beginning of period
$
32,231
$
34,315
$
34,052
$
33,940
$
28,885
Charged-off loans
(315)
(3,463)
(97)
(318)
(353)
Recoveries on charged-off loans
12
57
55
14
37
Net loans (charged-off) recovered
(303)
(3,406)
(42)
(304)
(316)
ACL established on PCD loans
—
—
—
—
1,622
ACL established on purchased seasoned loans
—
72
—
—
—
Provision (benefit) for credit losses on loans
(167)
1,250
305
416
3,749
Balance at end of period
$
31,761
$
32,231
$
34,315
$
34,052
$
33,940
Allowance for credit losses/total loans
0.88
%
0.89
%
0.96
%
0.94
%
0.95
%
Allowance for credit losses/non-accruing loans
283
282
148
294
357
NET LOAN (CHARGE-OFFS) RECOVERIES
Commercial real estate
$
(239)
$
(3,283)
$
—
$
—
$
(224)
Commercial and industrial
3
(15)
35
(256)
18
Residential real estate
(70)
(21)
8
8
(112)
Consumer
3
(87)
(85)
(56)
2
Total, net
$
(303)
$
(3,406)
$
(42)
$
(304)
$
(316)
Net charge-offs (recoveries) (QTD annualized)/average loans
0.03
%
0.37
%
—
%
0.03
%
0.04
%
Net charge-offs (recoveries) (YTD annualized)/average loans
0.14
0.19
—
0.03
0.02
PROVISION AND ALLOWANCE FOR CREDIT LOSSES ON AVAILABLE-FOR-SALE DEBT SECURITIES
Balance at beginning of period
$
—
$
—
$
—
$
—
$
—
Charged-off interest receivable on available-for-sale debt securities
—
—
—
—
—
Provision for credit losses on available-for-sale debt securities
—
—
—
—
—
Charged-off previously provisioned allowance for credit loss
—
—
—
—
—
Balance at end of period
$
—
$
—
$
—
$
—
$
—
H
BAR HARBOR BANKSHARES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES AND SUPPLEMENTARY DATA – UNAUDITED
At or for the Quarters Ended
Sep 30,
Jun 30,
Mar 31,
Dec 31,
Sept 30,
(in thousands)
2026
2026
2026
2025
2025
Net income
(R)
$
16,089
$
15,221
$
13,537
$
11,761
$
8,855
Non-core items:
Loss (gain) on available-for-sale debt securities, net
(69)
25
—
428
(41)
Loss (gain) on premises and equipment, net
47
—
134
370
(206)
(Gain) loss and other expenses on other real estate owned
1,267
273
—
—
—
Provision on non-PCD acquired loans
—
—
—
—
3,954
Acquisition, conversion and other expenses
610
(36)
1,455
4,170
4,978
Income tax expense (1)
(457)
(65)
(392)
(1,225)
(2,141)
Total non-core items (2)
1,398
197
1,197
3,743
6,544
Core earnings (2)
(A)
$
17,487
$
15,418
$
14,734
$
15,504
$
15,399
Net interest income
(B)
$
40,711
$
37,919
$
36,872
$
38,617
$
36,959
Non-interest income
10,847
11,732
10,414
10,325
10,567
Total revenue
51,558
49,651
47,286
48,942
47,526
Loss (gain) on available-for-sale debt securities, net
(69)
25
—
428
(41)
Total core revenue (2)
(C)
$
51,489
$
49,676
$
47,286
$
49,370
$
47,485
Total non-interest expense
31,367
29,182
29,827
33,799
32,739
Non-core expenses:
(Loss) gain on premises and equipment, net
(47)
—
(134)
(370)
206
Gain (loss) and other expenses on other real estate owned
(1,267)
(273)
—
—
—
Acquisition, conversion and other expenses
(610)
36
(1,455)
(4,170)
(4,978)
Total non-core expenses (2)
(1,924)
(237)
(1,589)
(4,540)
(4,772)
Core non-interest expense (2)
(D)
$
29,443
$
28,945
$
28,238
$
29,259
$
27,967
Total revenue
51,558
49,651
47,286
48,942
47,526
Total non-interest expense
31,367
29,182
29,827
33,799
32,739
Pre-tax, pre-provision net revenue(2)
(S)
$
20,191
$
20,469
$
17,459
$
15,143
$
14,787
Core revenue(2)
51,489
49,676
47,286
49,370
47,485
Core non-interest expense(2)
29,443
28,945
28,238
29,259
27,967
Core pre-tax, pre-provision net revenue(2)
(U)
$
22,046
$
20,731
$
19,048
$
20,111
$
19,518
(in millions)
Average earning assets
(E)
$
4,343
$
4,277
$
4,294
$
4,294
$
4,179
Average assets
(F)
4,731
4,654
4,669
4,670
4,518
Average shareholders' equity
(G)
546
547
542
533
502
Average tangible shareholders' equity (2) (3)
(H)
389
390
384
374
360
Tangible shareholders' equity, period-end (2) (3)
(I)
379
392
380
374
362
Tangible assets, period-end (2) (3)
(J)
4,547
4,585
4,519
4,526
4,563
I
BAR HARBOR BANKSHARES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES AND SUPPLEMENTARY DATA – UNAUDITED
At or for the Quarters Ended
Sep 30,
Jun 30,
Mar 31,
Dec 31,
Sept 30,
(in thousands)
2026
2026
2026
2025
2025
Common shares outstanding, period-end
(K)
16,766
16,754
16,742
16,702
16,689
Average diluted shares outstanding
(L)
16,828
16,808
16,804
16,757
16,284
Core earnings per share, diluted (2)
(A/L)
$
1.04
$
0.92
$
0.88
$
0.93
$
0.95
Tangible book value per share, period-end (2)
(I/K)
22.61
23.43
22.71
22.41
21.70
Tangible shareholders' equity/total tangible assets (2)
(I/J)
8.34
8.56
8.42
8.27
7.94
Performance ratios (4)
GAAP return on assets
1.35
%
1.31
%
1.18
%
1.00
%
0.78
%
Core return on assets (2)
(A/F)
1.47
1.33
1.28
1.32
1.35
Pre-tax, pre-provision return on assets(2)
(S/F)
1.69
1.76
1.52
1.29
1.30
Core pre-tax, pre-provision return on assets (2)
(U/F)
1.85
1.79
1.65
1.71
1.71
GAAP return on equity
11.69
11.16
10.13
8.76
6.99
Core return on equity (2)
(A/G)
12.70
11.30
11.03
11.55
12.16
Return on tangible equity (1) (2)
(R+Q)/H
16.84
16.11
14.77
12.94
10.07
Core return on tangible equity (1) (2)
(A+Q)/H
18.27
16.31
16.03
16.91
17.23
Efficiency ratio (2) (5)
(D-O-Q)/(C+N)
55.26
55.76
56.92
57.24
56.70
Net interest margin, fully taxable equivalent (2)
(B+P)/E
3.77
3.61
3.54
3.62
3.56
Supplementary data (in thousands)
Taxable equivalent adjustment for efficiency ratio
(N)
$
736
$
905
$
1,044
$
766
$
738
Franchise taxes included in non-interest expense
(O)
1
159
146
(22)
158
Tax equivalent adjustment for net interest margin
(P)
565
556
554
595
574
Intangible amortization
(Q)
582
582
582
582
466
(1) Assumes a marginal tax rate of 24.65% for the first, second and third quarters of 2026 and third and fourth quarters of 2025.
(2) Non-GAAP financial measure.
(3) 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.
(4) All performance ratios are based on average balance sheet amounts, where applicable.
(5) 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.
J
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v3.26.3
Document and Entity Information
Oct. 22, 2026
Document and Entity Information [Abstract]
Document Type
8-K
Document Period End Date
Oct. 22, 2026
Entity File Number
001-13349
Entity Registrant Name
BAR HARBOR BANKSHARES
Entity Incorporation, State or Country Code
ME
Entity Tax Identification Number
01-0393663
Entity Address, Address Line One
PO Box 400
Entity Address, Adress Line Two
82 Main Street
Entity Address, State or Province
ME
Entity Address, City or Town
Bar Harbor
Entity Address, Postal Zip Code
04609-0400
City Area Code
207
Local Phone Number
288-3314
Written Communications
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Pre-commencement Tender Offer
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Title of 12(b) Security
Common Stock, par value $2.00 per share
Trading Symbol
BHB
Security Exchange Name
NYSEAMER
Entity Emerging Growth Company
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Entity Central Index Key
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