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.