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Bar Harbor Bankshares reports Q2 earnings increase driven by higher fee income mainebiz.biz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mainebiz.biz Daily Mail and Mail on Sunday newspapers.
Jim Roche departs Business and Industry Association seacoastonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from seacoastonline.com Daily Mail and Mail on Sunday newspapers.
NH business and industry leader to head Maine Bankers Association mainebiz.biz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mainebiz.biz Daily Mail and Mail on Sunday newspapers.
By Staff Bar Harbor Bankshares (NYSE American: BHB) on Thursday reported a 26% increase in earnings for the first quarter of the year compared to the same quarter of 2020. The parent company of Bar Harbor Bank & Trust reported that net income in the first quarter of 2021 was $9.5 million, or 63 cents per share, compared to $7.7 million, or 50 cents per share in Q1 of 2020. For the same periods, core earnings were $10.2 million, or 68 cents per share, compared to $7.8 million, or 50 cents per share. Q1 2021 highlights over Q1 2020: • 1.03% return on assets; 1.11% core return on assets • 8% annualized total commercial loan growth, excluding Paycheck Protection Program loans ....
As JPMorgan Chase prepares to enter southern Maine’s crowded retail banking market, rivals are watching but not standing still. “They’re formidable,” Curtis Simard, president and CEO of Bar Harbor Bank and Trust (with $3.6 billion in assets) says of JPMorgan Chase, the largest U.S. bank with $2.7 trillion in assets. Both opened commercial offices in Portland in 2018, and now the Wall Street behemoth is preparing to open its first retail office there along with four others in Greater Portland by 2022. “We’ll be watching to make sure they don’t have broader plans than that,” says Simard. Image Chase Bank will start its Maine expansion with a downtown Portland branch. ....