Bankshares posts record net income



BAR HARBOR — Bar Harbor Bankshares (NYSE: BHB), the parent company of Bar Harbor Bank & Trust, earned record net income of $3.9 million for the first quarter of 2015, an increase of $94,000, or 2.5 percent, over the first quarter of 2014. The company also reported diluted earnings per share of $0.64 for the quarter, unchanged compared to the first quarter of 2014. The company’s annualized return on average shareholders’ equity amounted to 10.57 percent for the quarter, compared to 12.06 percent in the first quarter of 2014. The company’s first quarter return on average assets amounted to 1.06 percent, compared to 1.11 percent in the first quarter of 2014.

“We are pleased to have carried our 2014 momentum forward into 2015 with the announcement of our best quarterly earnings on record,” said President and CEO Curtis C. Simard. “Our first quarter performance featured meaningful commercial loan growth,” up 6 percent “compared to year end 2014.”

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