BAR HARBOR BANKSHARES
For the period ended Mar 31, 2026. Filed May 5, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 5, 2026
BHB$41.33-0.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES** (UNAUDITED)**
The following reconciliation table provides a more detailed analysis of these, and reconciliation for, each of non-GAAP financial measures:
| | | | | | | | | |
|---|---|---|---|---|---|---|---|---|
| · · · · Three Months Ended March 31, | ||||||||
| (in thousands) · · Calculations · · 2026 · · 2025 | ||||||||
| Net income | (R) | | $13,537 | | $10,211 | |||
| Non-recurring items: | | | | | | | | |
| Gain on sale of premises and equipment, net | | | 134 | | 90 | |||
| Acquisition, conversion and other expenses | | | 1,455 | | 239 | |||
| Income tax expense (1) | | | (392) | | (80) | |||
| Total non-recurring items | | | | | 1,197 | | | 249 |
| Total adjusted income(2) | (A) | | $14,734 | | $10,460 | |||
| | | | | | | | | |
| Net interest income | (B) | | $36,872 | | $29,007 | |||
| Plus: Non-interest income | | | 10,414 | | 8,918 | |||
| Total Revenue | | | 47,286 | | 37,925 | |||
| Loss (gain) on available-for-sale debt securities | | | — | | — | |||
| Total adjusted revenue(2) | (C) | | $47,286 | | $37,925 | |||
| | | | | | | | | |
| Total non-interest expense | | | $29,827 | | $24,651 | |||
| Non-recurring expenses: | | | | | | | | |
| Gain on sale of premises and equipment, net | | | (134) | | (90) | |||
| Acquisition, conversion and other expenses | | | (1,455) | | (239) | |||
| Total non-recurring expenses | | | | | (1,589) | | | (329) |
| Adjusted non-interest expense(2) | (D) | | $28,238 | | $24,322 | |||
| | | | | | | | | |
| Total revenue | | | | | 47,286 | | | 37,925 |
| Total non-interest expense | | | | | 29,827 | | | 24,651 |
| Pre-tax, pre-provision net revenue(2) | | (S) | | $17,459 | | $13,274 | ||
| | | | | | | | | |
| Adjusted revenue(2) | | | | | 47,286 | | | 37,925 |
| Adjusted non-interest expense(2) | | | | | 28,238 | | | 24,322 |
| Adjusted pre-tax, pre-provision net revenue(2) | | (U) | | $19,048 | | $13,603 | ||
| | | | | | | | | |
| (in millions) | | | | | | |||
| Average earning assets | (E) | | $4,294 | | $3,781 | |||
| Average assets | (F) | | 4,669 | | 4,077 | |||
| Average shareholders' equity | (G) | | 542 | | 466 | |||
| Average tangible shareholders' equity(2)(3) | (H) | | 384 | | 343 | |||
| Tangible shareholders' equity, period-end(2)(3) | (I) | | 380 | | 343 | |||
| Tangible assets, period-end(2)(3) | (J) | | 4,519 | | 3,940 | |||
| | | | | | | | | |
| | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|
| · · · · Three Months Ended March 31, · | |||||||||
| · · Calculations · · 2026 · · 2025 · | |||||||||
| (in thousands) · · · · · · | |||||||||
| Common shares outstanding, period-end | (K) | | 16,742 | | 15,317 | | |||
| Average diluted shares outstanding | (L) | | 16,804 | | 15,393 | | |||
| | | | | | | | | | |
| Adjusted earnings per share, diluted(2) | (A/L) | | $0.88 | | $0.68 | | |||
| Tangible book value per share, period-end(2) | (I/K) | | 22.71 | | 22.47 | | |||
| Total tangible shareholders' equity/total tangible assets(2) | (I/J) | | 8.42 | | 8.73 | | |||
| | | | | | | | | | |
| Performance ratios(4) | | | | | | | | | |
| Return on assets | | | | | 1.18% | | 1.02% | ||
| Adjusted return on assets(2) | | (A/F) | | | 1.28 | | | 1.04 | |
| Pre-tax, pre-provision return on assets(2) | | (S/F) | | | 1.52 | | | 1.32 | |
| Adjusted pre-tax, pre-provision return on assets(2) | | (U/F) | | | 1.65 | | | 1.35 | |
| Return on equity | | | | | 10.13 | | | 8.88 | |
| Adjusted return on equity(2) | | (A/G) | | | 11.03 | | | 9.09 | |
| Return on tangible equity (1) (2) | | (R+Q)/H | | | 14.77 | | | 12.27 | |
| Adjusted return on tangible equity(1)(2) | | (A+Q)/H | | | 16.03 | | | 12.57 | |
| Efficiency ratio(1)(2)(5) | | (D-O-Q)/(C+N) | | | 56.92 | | | 62.00 | |
| Net interest margin, fully taxable equivalent(2) | | (B+P)/E | | | 3.54 | | | 3.17 | |
| | | | | | | | | | |
| Supplementary data (in thousands) | | | | | | | | | |
| Taxable equivalent adjustment for efficiency ratio | | (N) | | $1,044 | | $717 | | ||
| Franchise taxes included in non-interest expense | | (O) | | | 146 | | | 131 | |
| Tax equivalent adjustment for net interest margin | | (P) | | | 554 | | | 568 | |
| Intangible amortization | | (Q) | | | 582 | | | 233 | |
| (1) | Assumes a marginal tax rate of 24.65% in the first quarter of 2026 and 24.26% in the first quarter of 2025. |
| (2) | Non-GAAP financial measure. |
| (3) | Tangible shareholders' equity is computed by taking total shareholders' equity less the intangible assets at period-end. Tangible assets is computed by taking total assets less the intangible assets at period-end. |
| (4) | All performance ratios are based on average balance sheet amounts, where applicable. |
| (5) | Efficiency ratio is computed by dividing adjusted non-interest expense net of franchise taxes and intangible amortization divided by adjusted revenue on a fully taxable equivalent basis. |
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