Bar Harbor Bank & Trust reports first-quarter results

May 17, 2017

Bar Harbor — Bar Harbor Bankshares reported $0.29 in first-quarter 2017 GAAP earnings per share, net of non-core charges (after-tax), totaling $0.14 per share, which were primarily related to merger-related costs. Core earnings per share totaled $0.43 during the quarter.

Core earnings are a non-GAAP measure which excludes non-core items that are not considered part of the normalized operations of the company. Per-share information includes the impact of 4.2 million shares issued as merger consideration to Lake Sunapee Bank Group shareholders, and a three-for-two stock split paid as a large stock dividend during the quarter. Earnings per share for comparative periods were adjusted for the stock split.

As of this quarter, the bank has $3.4 billion in total assets, including $1.6 billion added with the Lake Sunapee acquisition

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