October 30, 2013
Bar Harbor Bankshares sees record earnings
Bar Harbor Bankshares, the parent of Bar Harbor Bank and Trust, reported a 4.9% net income growth compared with the third quarter of last year, bringing in a record $3.5 million in earnings.
The boost in earnings translates to three cents more per diluted share than the third quarter of last year, when the company brought in 0.86 cents per share. Curtis Simard, the bank’s president and CEO, said in an earnings statement that the company also increased its credit quality and made modest gains with its commercial and consumer loan portfolios during the quarter, which is traditionally the bank’s strongest.
The company’s stock was trading 5 cents higher on the American Stock Exchange following the earnings announcement.
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