October 27, 2009
Bar Harbor Bankshares reports record earnings
By The Mainebiz News Staff
Bar Harbor Bankshares, parent company of Bar Harbor Bank and Trust, announced record earnings for the third quarter of 2009.
The company had a net income of $3.1 million for the quarter that ended Sept. 30, compared with $2.3 million the same quarter last year, a 33% increase, according to a press release from the company. For the nine-month period ending Sept. 30, Bar Harbor Bankshares reported a net income of $8.5 million, compared with $6.3 million for the same period in 2008, an increase of 34.4%.
President and CEO Joseph Murphy attributed the record quarterly and year-to-date earnings to solid loan origination activity and growth in retail deposits, as well as low non-performing loan levels.
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