Bar Harbor Q1 GAAP EPS $0.66 vs $0.86 YoY; dividend raised 7% to $0.30; authorizes 5% stock buyback

BAR HARBOR BANKSHARES

2024-Q1 EPS reported $0.66

Q1 GAAP net income $10.1M ($0.66 diluted EPS), down from $13.0M ($0.86) in Q1 2023.
Board declared $0.30 quarterly dividend (+7% YoY), payable June 14, 2024 to holders of record May 16, 2024.
Authorized repurchase of up to 5% of outstanding shares (~761,000) within 12 months.
Net interest margin compressed to 3.14% from 3.54% a year ago; commercial loans grew 7% annualized.
Wealth management AUM surpassed $3.0B; non-accruing loans remain low at 0.23% of total loans.

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BAR HARBOR BANKSHARES reported first quarter 2024 results: net income $10.1 million, EPS $0.66 per diluted share.

Period: first quarter 2024
Net income: $10.1 million
EPS: $0.66 per diluted share
Result: reported results

Exact text from the filing

Bar Harbor Bankshares (NYSE American: BHB) (the “Company”) reported first quarter 2024 GAAP and core (Non-GAAP) net income of $10.1 million or $0.66 per diluted share compared to $13.0 million or $0.86 per diluted share in the same quarter of 2023.

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Source: SEC EDGAR

accession 0001558370-24-005310

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