8-K
BAR HARBOR BANKSHARES (BHB)
8-K
2025-11-10
For: 2025-11-10
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April 06, 2026
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OFTHE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): November 10, 2025
BAR HARBOR BANKSHARES
(Exact Name of Registrant as Specified in its Charter)
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|---|---|---|
| Maine | 001-13349 | 01-0393663 |
| (State or Other Jurisdiction)<br>of Incorporation) | (Commission File No.) | (I.R.S. Employer<br>Identification No.) |
| | | |
| PO Box 400 | | 04609-0400 |
| 82 Main Street | | (Zip Code) |
| Bar Harbor, Maine | | |
| (Address of Principal Executive Offices) | | |
Registrant’s telephone number, including area code: (207) 288-3314
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act
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|---|---|---|
| Title of each class | Trading Symbol | Name of each exchange on which registered |
| Common Stock, par value $2.00 per share | BHB | NYSE American |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 Regulation FD Disclosure
On November 10, 2025, Bar Harbor Bankshares (the “Company”) made available its investor presentation that the Company intends to utilize in connection with investor meetings on November 11, 2025. A copy of the presentation is furnished as Exhibit 99.1 to this Current Report on Form 8-K (this “Report”) and is incorporated by reference herein. The investor presentation is also available on the Company’s website located at www.barharbor.bank/about-us/shareholder-relations/investor-presentations.
Note Regarding Forward-Looking Statements
This Report contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The use of words such as “anticipate,” “believe,” “continue,” “could,” “endeavor,” “estimate,” “expect,” “anticipate,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will” or “would” or the negative of such words or other similar expressions can be used to identify forward-looking statements. Each forward-looking statement is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statement. These and other risks and uncertainties are described in additional detail in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, its Quarterly Reports on Form 10-Q and its other filings made with the Securities and Exchange Commission from time to time. Although the Company’s forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by the Company. As a result, you are cautioned not to rely on these forward-looking statements. Any forward-looking statement made in this Report speaks only as of the date on which it is made. Except as required by applicable law, the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
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|---|---|---|
| Exhibit No. | **** | Description |
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| 99.1 | | Investor Presentation dated November 2025 |
| 104 | | Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
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| | Bar Harbor Bankshares | |
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| November 10, 2025 | By: | /s/ Curtis C. Simard |
| | | Curtis C. Simard |
| | | President and CEO |
Exhibit 99.1
| 2025Investor<br>Presentation |
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| Legal Disclaimer<br>Cautionary Statement Regarding Forward-Looking Statements<br>This presentation, including any oral statements made regarding the contents of this presentation, contains certain statements that are not historical facts that may<br>constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of<br>1934, as amended, and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. When used in this presentation<br>the words “believe,” “anticipate,” “expect,” “may,” “will,” “assume,” “should,” “predict,” “could,” “would,” “intend,” “targets,” “estimates,” “projects,” “plans,” and<br>“potential,” and other similar words and expressions of the future, are intended to identify such forward-looking statements, but other statements not based on<br>historical information may also be considered forward-looking, including statements about Bar Harbor Bankshares’ (the “Company”) future financial and operating<br>results and the Company’s plans, objectives, and intentions. All forward-looking statements are subject to risks, uncertainties, and other factors that may cause the<br>actual results, performance, or achievements of the Company to differ materially from any results, performance, or achievements expressed or implied by such<br>forward-looking statements. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual<br>results to differ materially from the statements, including, but not limited to: (1) deterioration in the financial performance and/or condition of borrowers of Bar Harbor<br>Bank & Trust (the “Bank” or “BHBT”), including as a result of the negative impact of inflationary pressures on our customers and their businesses resulting in significant<br>increases in credit losses and provisions for those losses; (2) the possibility that our asset quality could decline or that we experience greater loan losses than<br>anticipated; (3) increased levels of other real estate owned, primarily as a result of foreclosures; (4) the impact of liquidity needs on our results of operations and<br>financial condition; (5) competition from financial institutions and other financial service providers; (6) the effect of interest rate increases on the cost of deposits; (7)<br>unanticipated weakness in loan demand or loan pricing; (8) adverse conditions in the national or local economies including in our markets throughout Northern New<br>England; (9) changes in consumer spending, borrowing and saving habits; (10) the emergence and effects related to a future pandemic, epidemic or outbreak of an<br>infectious disease, including actions taken by governmental officials to curb the spread of such an infectious disease, and the resulting impact on general economic and<br>financial market conditions and on the Company’s and our customers' business, results of operations, asset quality and financial condition; (11) the effects of civil<br>unrest, international hostilities or other geopolitical events, including the war in Ukraine and recent hostilities in the Middle East; (12) failure to realize the expected<br>synergies, cost savings and other financial benefits from the acquisition of Guaranty Bancorp, Inc., the parent company of Woodsville Guaranty Savings Bank<br>("Woodsville"); (13) lack of strategic growth opportunities or our failure to execute on available opportunities; (14) the ability to grow and retain low-cost core deposits<br>and retain large, uninsured deposits; (15) our ability to effectively manage problem credits; (16) our ability to successfully implement efficiency initiatives on time and<br>with the results projected; (17) our ability to successfully develop and market new products and implement technology effectively; (18) the impact of negative<br>developments in the financial industry and United States and global capital and credit markets; (19) our ability to retain executive officers and key employees and their<br>customer and community relationships; (20) our ability to adapt to technological changes; (21) risks associated with litigation, including reputational and financial risks<br>and the applicability of insurance coverage; (22) the vulnerability of the Bank’s computer and information technology systems and networks, and the systems and<br>networks of third parties with whom the Company or the Bank contract, to unauthorized access, computer viruses, phishing schemes, spam attacks, human error,<br>natural disasters, power loss, and other security breaches and interruptions; (23) changes in the reliability of our vendors, internal control systems or information<br>systems; (24) ongoing competition in the labor markets and increased employee turnover; (25) the potential impact of climate change; (26) our ability to comply with<br>various governmental and regulatory requirements applicable to financial institutions; (27) changes in state and federal laws, rules, regulations, or policies applicable to<br>banks or bank or financial holding companies, including regulatory or legislative developments; (28) the effects of and changes in trade and monetary and fiscal policies<br>and laws, including the interest rate policies of the Board of Governors of the Federal Reserve System; (29) adverse impacts (including costs, fines, reputational harm,<br>or other negative effects) from current or future litigation, regulatory examinations, or other legal and/or regulatory actions; (30) reductions in the market value or<br>outflows of wealth management assets under management; (31) the impacts of tariffs, sanctions and other trade policies of the United States and its global trading<br>counterparts; and (32) general competitive, economic, political, and market conditions, including economic conditions in the local markets where we operate.<br>Other factors not identified above, including those described under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and<br>Results of Operations,” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, our Quarterly Reports on Form 10-Q, and Current Reports on<br>Form 8-K filed with the Securities and Exchange Commission (the “SEC”) and available on the SEC’s website at http://www.sec.gov, may also cause actual results to<br>differ materially from those described in our forward-looking statements. Most of these factors are difficult to anticipate and are generally beyond our control. Given<br>these uncertainties, you are cautioned not to place undue reliance on such forward-looking statements, and you should consider these factors in connection with<br>considering any forward-looking statements that may be made by us. We undertake no obligation to release publicly any revisions to any forward-looking statements,<br>to report events or to report the occurrence of unanticipated events unless we are required to do so by law. 2 |
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| Legal Disclaimer<br>Non-GAAP Financial Measures<br>This presentation contains certain non-GAAP financial measures in addition to results presented in accordance with<br>accounting principles generally accepted in the United States of America (“GAAP”). These non-GAAP measures are<br>intended to provide the reader with additional supplemental perspectives on operating results, performance trends, and<br>financial condition. Non-GAAP financial measures are not a substitute for GAAP measures; they should be read and used<br>in conjunction with the Company's GAAP financial information. Because non-GAAP financial measures presented in this<br>document are not measurements determined in accordance with GAAP and are susceptible to varying calculations, these<br>non-GAAP financial measures, as presented, may not be comparable to other similarly titled measures presented by<br>other companies. A reconciliation of non-GAAP financial measures to GAAP measures is provided below. In all cases, it<br>should be understood that non-GAAP measures do not depict amounts that accrue directly to the benefit of<br>shareholders. An item which management excludes when computing non-GAAP core earnings can be of substantial<br>importance to the Company's results for any particular quarter or year. Each non-GAAP measure used by the Company in<br>this report as supplemental financial data should be considered in conjunction with the Company's GAAP financial<br>information.<br>The Company utilizes the non-GAAP measure of core earnings in evaluating operating trends, including components for<br>core revenue and expense. These measures exclude amounts which the Company views as unrelated to its normalized<br>operations, including gains/losses on securities, premises, equipment and other real estate owned, acquisition costs,<br>restructuring costs, legal settlements, and systems conversion costs. Non-GAAP adjustments are presented net of an<br>adjustment for income tax expense.<br>The Company also calculates core earnings per share based on its measure of core earnings. The Company views these<br>amounts as important to understanding its operating trends, particularly due to the impact of accounting standards<br>related to acquisition activity. Analysts also rely on these measures in estimating and evaluating the Company's<br>performance. Management also believes that the computation of non-GAAP core earnings and core earnings per share<br>may facilitate the comparison of the Company to other companies in the financial services industry. The Company also<br>adjusts certain equity related measures to exclude intangible assets due to the importance of these measures to the<br>investment community.<br>Please refer to the Appendix for more information about the non-GAAP financial measures, and reconciliations of the<br>non-GAAP financial measures to their most directly comparable GAAP financial measures.<br>3 |
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| A Bank that Thinks Differently<br>• Employee and customer experience is the foundation of our performance, which leads<br>to financial benefits to our shareholders, including a consistent history of expanding<br>dividends<br>• Commitment to risk management<br>• Service and sales driven culture with a focus on core business growth<br>• Fee income is fundamental to our profitability through trust and treasury management<br>services, customer derivatives, and secondary mortgage market sales<br>• Expansion of our brand and business to deepen market presence<br>• Geography, 135 year heritage, and performance are key while remaining true to a<br>culture that has long-term commitment to our communities<br>We take local deposits and lend to local businesses and consumers<br>4<br>Bar Harbor Bank & Trust is the only community bank headquartered in Northern New England<br>with branches in Maine, New Hampshire and Vermont. The Bank is focused on Commercial,<br>Retail and Wealth Management banking services in over 50 locations. Our business model<br>balances earnings with growth by focusing on the following tenets: |
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| Overview of Bar Harbor Bank & Trust<br>• We strive to be one of the most profitable banks in New England;<br>and to provide exceptional service to people, businesses and<br>communities we serve<br>• Business overview as of September 30, 2025<br>• Over 50 locations spanning Northern New England1<br>• $3.4 billion in AUM Bar Harbor Wealth Management division<br>combined with our brokerage services<br>• Commercial LPO office in Portland, Maine<br>• Diverse fee income sources have been developed<br>• Seasoned management team with strong market knowledge and<br>industry experience<br>• Track record of generating growth and expanding dividends<br>• Employee and customer experience is the foundation of superior<br>performance, which we believe leads to financial benefit to<br>shareholders<br>• Strong commitment to risk management<br>• Continued commitment to expanding customer services and<br>products, while growing and diversifying our non-interest income<br>sources<br>• Investment in process, products, technology, training and<br>leadership<br>• Expansion of the Bank’s brand and business to deepen market<br>presence and leverage scale<br>5<br>Source: Company filings, includes banking, lending and wealth management service locations across ME, VT and NH<br>1Locations include banking, lending and wealth management services<br>2For a reconciliation of non-GAAP financial measures to the comparable GAAP measures, see the Appendix<br>Bank Overview Key Statistics as of September 30, 2025<br>Assets $4,717<br>Net Loans $3,550<br>Deposits $3,948<br>Shareholder Equity $521<br>NPAs / Total Assets 0.25%<br>Core Return on Average Assets2 1.35%<br>Core Return on Average Equity2 12.16%<br>Net Interest Margin2 3.56%<br>Closing Stock Price $30.46<br>Market cap $508<br>Price / LTM Core EPS 10.0x<br>Dividend Yield 4.20% |
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| Senior Executive Team<br>Curtis C. Simard<br>President & Chief Executive Officer<br>• Joined as President & CEO of Bar<br>Harbor Bank & Trust in June of<br>2013<br>• Served as Managing Director of<br>Corporate Banking for TD Bank<br>• Over 30+ years of industry<br>experience<br>SVP, Chief Human Resources Officer<br>Alison DiPaola<br>• Joined in June 2013<br>• Extensive human resources<br>experience including being<br>SHRM-SCP certified<br>• Over 10+ years of industry<br>experience<br>Jason Edgar<br>President, Bar Harbor Wealth<br>Management<br>• Joined in June of 2019<br>• Served as SVP, Director of Wealth<br>Management at Berkshire Hills<br>Bancorp and has over 20+ years<br>industry experience<br>Marion Colombo<br>EVP, Director of Retail Delivery<br>• Joined in February of 2018<br>• Over 30+ years of experience,<br>including Market President of Retail<br>for TD Bank in Boston<br>John Mercier<br>EVP, Chief Lending Officer<br>• Joined in April of 2017<br>• Over 30+ years of experience in<br>lending throughout the Northeast<br>John Williams<br>SVP, Chief Risk Officer<br>• Joined in December of 2014<br>• 10+ years in various risk<br>management roles within banking<br>Joseph Scully<br>SVP, Chief Information Officer &<br>Director of Operations<br>• Joined in January of 2015<br>• Over 30+ years of experience in<br>operations, technology & security<br>experience, including the<br>Department of Defense and<br>Financial Institutions<br>6<br>EVP, Chief Financial Officer & Treasurer<br>Josephine Iannelli<br>• Joined in October of 2016<br>• Served as EVP CFO and Treasurer of<br>Berkshire Hills Bancorp as well as<br>other various management positions<br>at PNC<br>• Over 25+ years of industry experience |
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| Our Markets<br>The Bank serves a wide range of markets in Maine, New Hampshire and Vermont. Within our markets,<br>tourism, service, distribution, agriculture, and the working waterfront remain strong and continue to drive<br>economic activity. These core markets have also maintained their strength through diversification into various<br>services industries.<br>Maine<br>• 22 full-service branches in Downeast, Midcoast and Central<br>Maine<br>• Primary market areas: Central and coastal regions in the<br>counties of Hancock, Knox, Washington, Kennebec and<br>Sagadahoc<br>New Hampshire<br>• 30 full-service branches and two stand-alone drive-up windows<br>in New Hampshire<br>• Primary market areas: Nashua, Manchester, Concord, and the<br>Upper Valley, including Lebanon, Hanover, New London and<br>Newport<br>Vermont<br>• 10 full service-branches and one stand-alone drive-up window<br>in Vermont<br>• Primary market areas: Central Vermont within the counties of<br>Rutland, Windsor and Orange<br>7 Note: Information as of September 30, 2025 |
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| Our strategy is working and the<br>industry is taking notice<br>8 |
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| 9<br>Enhancing our New Hampshire Franchise<br>• Closed the Guaranty acquisition effective July 31,<br>2025; successfully completed system conversion in<br>early October<br>• This strategic expansion enabled Bar Harbor Bank &<br>Trust to add nine New Hampshire branches,<br>broadening the Bank’s footprint in an adjacent,<br>contiguous geography.<br>• The merger allows Bar Harbor Bank & Trust to<br>enhance our deposit and loan base, while creating<br>new opportunities for cross-sell and fee income.<br>• Both institutions are long-standing community<br>banks (Bar Harbor founded 1887; Woodsville<br>founded 1889), which supports alignment in values<br>and customer focus.<br>Acquisition of Guaranty Bancorp, Inc. |
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| BHB Stock Dividend Rate<br>• Deliver consistently high dividend yields<br>10<br>Peer Average calculated based on the peer group's public filings. Peer group defined in BHB 2025 Proxy, filed on March 31, 2025 |
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| BHB: Investment Summary<br>• We set out to build a balanced Bank that is not overly reliant on any one business, with<br>a strong risk-focused culture, and a judicious approach to managing capital through all<br>market conditions. We do this by:<br>• Growing market share as our high-touch, solutions-based service differentiates us<br>from our competition<br>• Focusing on core earnings as we balance growth with profitability<br>• Growing core transactional deposits over the long-term<br>• Adhering to a disciplined credit culture with historic low charge-off rates<br>• Diligently managing our interest rate sensitivity<br>• Expanding non-interest income as a percentage of total revenue<br>• Managing non-interest expenses while selectively investing in infrastructure, digital<br>platforms, call center, information technology and operations<br>• We have an experienced team and firm culture in place to implement our strategies in<br>all economic environments<br>11 |
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| 2025 Year-to-Date Overview<br>• Poised for Continued, Profitable Growth<br>• 0.79% return on assets, 1.15% core return on assets1<br>• 7.02% return on equity, 10.20% core return on equity1<br>• 5% annualized organic commercial loan growth2<br>• 3.32% net interest margin1<br>• 60% efficiency ratio1<br>• 0.25% non-performing assets ratio to total assets<br>“Our business is based on longstanding, basic banking principles; take in<br>deposits in the form of real currency and then lend that money back to our<br>communities to make a meaningful difference. We remain committed to this<br>while holding steadfast and resolute in navigating industry challenges,<br>differentiating ourselves in the community bank space.” – Curtis C. Simard<br>12<br>1 For a reconciliation of non-GAAP measures to comparable GAAP measures, see the Appendix<br>2 Organic growth excludes loans acquired from Guaranty Bancorp, Inc. as of August 1, 2025 |
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| Q3 2025 Overview<br>• 0.78% return on assets, 1.35% core return on assets1<br>• 6.99% return on equity, 12.16% core return on equity1<br>• 3.56% net interest margin1<br>• 57% efficiency ratio1<br>• 0.25% non-performing assets ratio to total assets<br>• Book value per share of $31.22<br>Vision Statement<br>Bar Harbor Bankshares (BHB) is an independent community banking<br>organization committed to working alongside its customers and employees to<br>deliver top-quartile performance for shareholders.<br>13<br>1 For a reconciliation of non-GAAP measures to comparable GAAP measures, see the Appendix |
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| Diversification of Non-Interest Income<br>• We have diverse sources of non-interest income that continue to be a significant<br>contribution in any rate environment<br>• Mortgage production is opportunistically managed between balance sheet and secondary<br>market sales<br>• Bar Harbor Wealth Management, along with brokerage, continues to add new customers<br>while navigating a tumultuous market breaching $3.4 billion in AUM<br>14<br>Excludes one time gains/losses on available-for-sale debt securities<br>Trust & Wealth,<br>40%<br>Customer<br>Service Fees,<br>45%<br>Mortgage<br>Banking, 5%<br>Customer<br>Derivative<br>Fees, 1%<br>Other, 10%<br>Non-Interest Income, 3Q 2023<br>Trust & Wealth,<br>43%<br>Customer<br>Service Fees,<br>39%<br>Mortgage<br>Banking, 7%<br>Customer<br>Derivative Fees,<br>3%<br>Other, 8%<br>Non-Interest Income, 3Q 2024<br>Trust & Wealth,<br>37%<br>Customer<br>Service Fees,<br>41%<br>Mortgage<br>Banking, 4%<br>Customer<br>Derivative Fees 9%<br>Other, 9%<br>Non-Interest Income, 3Q 2025 |
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| Loans – Focus on Profitability<br>• Continue to prudently evaluate our loan portfolio mix & strategy<br>• As of Q3 2025, Commercial Loans have increased from 62% to 68% of the Loan<br>Portfolio since Q3 2021<br>15 |
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| Credit-Oriented Culture<br>Asset Quality Remained Strong at Q3 2025<br>• Non-accruing loans ended the quarter at 0.27% of total loans, which was down from<br>0.31% for Q2 2025<br>• Net loan charge-offs were $316 thousand in Q3 2025, driven by two commercial<br>charge-offs totaling $232 thousand. YTD net loan charge-offs are $646 thousand and<br>full year 2024 net loan charge offs totaled $151 thousand.<br>16<br>• Loans 30 days past due at 9/30/2025<br>were 0.22% of total loans, compared<br>to 0.27% at 6/30/2025<br>• ACL for Loans increased $5.1 million<br>during Q3 2025 to $33.9 million,<br>driven by the inclusion of reserves<br>from the Woodsville acquisition<br>(including $1.6 million of PCD<br>reserves recognized at acquisition).<br>• Pass-rated loans ratio of 94%, with<br>positive external feedback from<br>independent Loan Review<br>Delinquent & Non-performing Loans / Total Loans<br>1 The increase for Q4 2024 and Q1 2025 was primarily a function of timing given the 31st day lands on a business day and a group of customers typically make payments<br>about 30 days in arrears which become reportable as overdue. Accordingly, we do not believe the increase was an indication of deteriorated credit quality.<br>Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025<br>Accruing Delinquent<br>Loans1 0.07% 0.55% 0.40% 0.09% 0.09%<br>Non-Accruing Loans 0.24% 0.22% 0.26% 0.31% 0.27%<br>Total Delinquent and<br>Non-Accruing Loans 0.31% 0.77% 0.66% 0.40% 0.36% |
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| Commercial Real Estate – Office Exposure<br>Office portfolio remains sound amid industry challenges<br>Total outstanding office loans of $261 million, or ~ 8.2% of total loans, at Q3 2025<br>• Office loans increased $16 million in Q3, driven by two new RR3 loans. BHBT has<br>remained highly selective in new CRE-Office originations, resulting in a net increase<br>of only $3MM over the past 12 months.<br>• 86% of total Office Exposure is pass-rated, with 8% rated Substandard or worse<br>• Weighted average risk rating of 3.99 for Office, compared to 4.12 for total portfolio<br>17<br>• 96% of total office exposure within<br>New England market area, with a<br>focus on suburban markets<br>• Largest office exposure is a $29MM<br>RR3 credit, with a 61% LTV.<br>• Exposure is spread across 62<br>relationships and 93 loans<br>• Total commitments of $271 million<br>include undrawn LOCs and SWAP<br>exposure<br>Commercial Real Estate – Office ($000s)<br>Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025<br>Total Office<br>Commitments $268,802 $255,938 $253,697 $252,758 $270,951<br>Weighted Average<br>Interest Rate<br>5.48% 5.30% 5.28% 5.29% 5.32%<br>Weighted Average<br>Risk Rating 3.99 4.08 4.13 4.13 3.99<br>Note: As of 9/30/2025, WGSB loan data remained outside BHBT’s core system and has not yet been fully integrated into concentration reporting.<br>Accordingly, current exposures, balances, and other figures above reflect BHBT standalone unless otherwise noted. |
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| Asset Quality<br>18<br> -<br> 50<br> 100<br> 150<br> 200<br> 250<br> 300<br> 350<br> 400<br>Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025<br>Thousands<br>Net Charge Offs $<br>0.00%<br>0.05%<br>0.10%<br>0.15%<br>0.20%<br>0.25%<br>0.30%<br>0.35%<br>Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025<br>NPAs as a % of Total Assets<br>0.00%<br>0.05%<br>0.10%<br>0.15%<br>0.20%<br>0.25%<br>0.30%<br>0.35%<br>Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025<br>Non-Performing Loans as a % of Total Loans<br>0.85%<br>0.87%<br>0.89%<br>0.91%<br>0.93%<br>0.95%<br>0.97%<br>Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025<br>Allowance for Credit Losses as a % of Total Loans<br>(period end) |
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| Deposits – Maintain Portfolio Composition<br>19<br>• Stable and consistent deposit trends<br>Non-interest<br>bearing<br>demand,<br>18%<br>Interest-bearing<br>demand,<br>28%<br>Savings, 17%<br>Money<br>market, 12%<br>Time<br>deposits,<br>25%<br>Deposit Product Mix as of 9/30/2025<br>75% 75% 74% 73% 75%<br>25% 25% 26% 27% 25%<br>0%<br>10%<br>20%<br>30%<br>40%<br>50%<br>60%<br>70%<br>80%<br>90%<br>100%<br>Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025<br>Total non-maturity deposits (%) Total time deposits (%) |
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| Continued Commitment to Strong Capital<br>20<br>Note: The blue horizontal lines indicate minimum required levels for “well-capitalized” banks<br>6.00%<br>7.00%<br>8.00%<br>9.00%<br>10.00%<br>11.00%<br>12.00%<br>13.00%<br>14.00%<br>15.00%<br>Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025<br>Total Capital to Risk-Weighted Assets<br>6.00%<br>7.00%<br>8.00%<br>9.00%<br>10.00%<br>11.00%<br>12.00%<br>Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025<br>CET 1 Capital to Risk-Weighted Assets<br>6.00%<br>7.00%<br>8.00%<br>9.00%<br>10.00%<br>11.00%<br>12.00%<br>13.00%<br>Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025<br>Tier 1 Capital to Risk-Weighted Assets<br>$0.29<br>$0.30<br>$0.31<br>$0.32<br>Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025<br>Cash Dividend Paid Per Share |
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| Interest Rate Sensitivity Position<br>21<br>• The Bank’s net interest income (“NII”) sensitivity is slightly asset sensitive<br>• Economic value of equity (“EVE”) is slightly liability sensitive, with Asset/Swap duration (2.2) and<br>Liability duration (2.3) closely matched to minimize risk<br>• The Bank continues to invest in our in-house modeling capabilities allowing for both an efficient<br>and effective execution on our strategies<br>Change in Change Change in Change<br>Interest Rates NII Interest Rates EVE<br>(basis points) ( % ) (basis points) ( % )<br>-200 -5.8% -200 -3.8%<br>-100 -3.1% -100 -0.5%<br>+100 3.3% +100 -5.6%<br>+200 5.8% +200 -7.4%<br>+300 8.1% +300 -9.8%<br>As of September 30, 2025 As of September 30, 2025<br>-20.0%<br>-10.0%<br>0.0%<br>10.0%<br>-200 -100 +100 +200 +300<br>Year 1 NII Ramp Impact<br>-20.0%<br>-10.0%<br>0.0%<br>10.0%<br>-200 -100 +100 +200 +300<br>EVE Shock Impact |
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| Investor Relations Contact Information<br>22<br>Facebook<br>@BHBTsocial<br>LinkedIn<br>Bar Harbor Bank & Trust<br>Instagram<br>@BHBTSocial<br>Connect with us<br>on Social Media<br>Visit our Website<br>barharbor.bank/shareholder-relations<br>Contact by Phone<br>207-288-2637<br>Write to us at<br>Bar Harbor Bankshares<br>Attn: Investor Relations<br>PO Box 400<br>Bar Harbor, ME 04609-0400<br>Contact by Email<br>investorrelations@barharbor.bank |
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| Historical Financial Performance<br>24<br>Unaudited<br>2022Y 2023Y 2024Y 2024Q3 2024Q4 2025Q1 2025Q2 2025Q3<br>Balance Sheet<br>Total Assets $3,910 $3,971 $4,083 $4,030 $4,083 $4,063 $4,112 $4,717<br>Total Loans 2,903 2,999 3,147 3,082 3,147 3,124 3,153 3,584<br>Total Deposits 3,043 3,141 3,268 3,261 3,268 3,297 3,292 3,948<br>Capital<br>Total Equity $393 $432 $458 $460 $458 $466 $469 $521<br>Tang. Common Equity / Tang. Assets 7.09% 8.00% 8.46% 8.61% 8.46% 8.73% 8.67% 7.94%<br>Tier 1 Leverage Ratio 9.21% 9.70% 10.30% 10.09% 10.30% 10.30% 10.37% 9.58%<br>Total Risk-Based Capital Ratio 13.50% 14.24% 13.47% 14.37% 13.47% 13.69% 13.76% 13.05%<br>Earnings & Profitability<br>Net Income $43.6 $44.9 $43.5 $12.2 $11.0 $10.2 $6.1 $8.9<br>Core ROAA 1.17% 1.15% 1.09% 1.20% 1.09% 1.04% 1.06% 1.35%<br>Core ROAE 10.96% 10.96% 9.72% 10.68% 9.57% 9.09% 9.19% 12.16%<br>Net Interest Margin 3.36% 3.29% 3.15% 3.15% 3.17% 3.17% 3.23% 3.56%<br>Efficiency Ratio 59.08% 58.47% 61.83% 62.09% 59.84% 62.00% 62.10% 56.70%<br>Asset Quality<br>NPLs / Loans 0.23% 0.18% 0.22% 0.23% 0.22% 0.26% 0.31% 0.27%<br>NPAs / Assets 0.17% 0.14% 0.31% 0.18% 0.31% 0.32% 0.30% 0.25%<br>Reserves / Loans 0.89% 0.94% 0.91% 0.94% 0.91% 0.92% 0.92% 0.95%<br>NCOs / Average Loans -0.01% 0.00% 0.01% 0.01% 0.02% 0.01% 0.03% 0.04%<br>Yield and Cost<br>Yield on Earning Assets 3.73% 4.85% 5.18% 5.24% 5.14% 5.16% 5.23% 5.36%<br>Cost of Interest Bearing Deposits 0.31% 1.57% 2.37% 2.45% 2.41% 2.31% 2.28% 2.12%<br>Cost of Total Interest Bearing Liabilities 0.49% 1.99% 2.58% 2.66% 2.54% 2.52% 2.51% 2.27%<br>Audited<br>Dollar values in millions, except per share amounts or otherwise noted |
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| Non-GAAP to GAAP Reconciliations<br>25<br>2022Y 2023Y 2024Y 2024Q3 2024Q4 2025Q1 2025Q2 2025Q3<br>Year to Date<br>2025<br>Net income $ 43,557 $ 44,852 $ 43,544 $ 12,193 $ 10,999 $ 10,211 $ 6,092 $ 8,855 $ 25,158<br>Non-core items:<br>(Gain) loss on available-for-sale debt securities(6) (53) (34) (50) — — — 4,942 (41) 4,901<br>(Gain) loss on sale of premises and equipment, net 10 182 (192) — 71 90 3 (206) (113)<br>Provision on non-PCD acquired loans — — — — — — — 3,954 3,954<br>Acquisition, conversion and other expenses 266 283 20 — — 239 1,205 4,978 6,422<br>Income tax expense (1) (51) (104) 53 — (17) (80) (1,492) (2,141) (3,738)<br>Total non-core items 172 327 (169) — 54 249 4,658 6,544 11,426<br>Core earnings (2) (A) $ 43,729 $ 45,179 $ 43,375 $ 12,193 $ 11,053 $ 10,460 $ 10,750 $ 15,399 $ 36,584<br>Net interest income (B) $113,681 $117,675 $113,839 $ 28,958 $ 29,067 $ 29,007 $ 29,895 $ 36,959 $ 95,861<br>Non-interest income 34,647 35,073 36,888 9,653 9,392 8,918 4,646 10,567 24,131<br>Total revenue 148,328 152,748 150,727 38,611 38,459 37,925 34,541 47,526 119,992<br>(Gain) loss on available-for-sale debt securities(6) (53) (34) (50) — — — 4,942 (41) 4,901<br>Total core revenue (2) (C) $148,275 $152,714 $150,677 $ 38,611 $ 38,459 $ 37,925 $ 39,483 $ 47,485 $ 124,893<br>Total non-interest expense $ 90,579 $ 92,723 $ 95,987 $ 24,772 $ 23,885 $ 24,651 $ 26,538 $ 32,739 $ 83,928<br>Non-core expenses:<br>Gain (loss) on sale of premises and equipment, net (10) (182) 192 — (71) (90) (3) 206 113<br>Acquisition, conversion and other expenses (266) (283) (20) — — (239) (1,205) (4,978) (6,422)<br>Total non-core expenses (276) (465) 172 — (71) (329) (1,208) (4,772) (6,309)<br>Core non-interest expense (2) (D) $ 90,303 $ 92,258 $ 96,159 $ 24,772 $ 23,814 $ 24,322 $ 25,330 $ 27,967 $ 77,619<br>Audited Unaudited<br>Dollar values in millions, except per share amounts or<br>otherwise noted<br>For the Year Ended,<br>(Continued) |
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| Non-GAAP to GAAP Reconciliations (continued)<br>26<br>2022Y 2023Y 2024Y 2024Q3 2024Q4 2025Q1 2025Q2 2025Q3<br>Year to Date<br>2025<br>Total revenue $148,328 $152,748 $150,727 $ 38,611 $ 38,459 $ 37,925 $ 34,541 $ 47,526 $ 119,992<br>Total non-interest expense 90,579 92,723 95,987 24,772 23,885 24,651 26,538 32,739 83,928<br>Pre-tax, pre-provision net revenue (S) $ 57,749 $ 60,025 $ 54,740 $ 13,839 $ 14,574 $ 13,274 $ 8,003 $ 14,787 $ 36,064<br>Core revenue(2) $148,275 $152,714 $150,677 $ 38,611 $ 38,459 $ 37,925 $ 39,483 $ 47,485 $ 124,893<br>Core non-interest expense(2) 90,303 92,258 96,159 24,772 23,814 24,322 25,330 27,967 77,619<br>Core pre-tax, pre-provision net revenue(2) (U) $ 57,972 $ 60,456 $ 54,518 $ 13,839 $ 14,645 $ 13,603 $ 14,153 $ 19,518 $ 47,274<br>(in millions)<br>Average earning assets (E) $ 3,425 $ 3,623 $ 3,677 $ 3,728 $ 3,721 $ 3,781 $ 3,777 $ 4,179 $ 3,932<br>Average assets (F) 3,747 3,934 3,986 4,027 4,019 4,077 4,071 4,518 4,245<br>Average shareholders' equity (G) 399 412 446 454 460 466 469 502 479<br>Average tangible shareholders' equity (2) (3) (H) 273 288 323 330 336 343 346 363 349<br>Tangible shareholders' equity, period-end (2) (3) (I) 268 308 335 336 335 343 346 362 362<br>Tangible assets, period-end (2) (3) (J) 3,784 3,847 3,960 3,906 3,960 3,940 3,989 4,558 4,558<br>Common shares outstanding, period-end (K) 15,083 15,172 15,280 15,268 15,280 15,317 15,322 16,689 16,689<br>Average diluted shares outstanding (L) 15,112 15,195 15,311 15,326 15,346 15,393 15,372 16,284 15,685<br>Core earnings per share, diluted (2) (A/L) $ 2.89 $ 2.95 $ 2.84 $ 0.80 $ 0.72 $ 0.68 $ 0.70 $ 0.95 $ 2.33<br>Tangible book value per share, period-end (2) (I/K) 17.78 20.28 21.93 22.02 21.93 22.47 22.58 21.70 21.70<br>Tangible shareholders' equity/total tangible assets (2) (I/J) 7.09 8.00 8.46 8.61 8.46 8.73 8.67 7.94 7.94<br>Audited Unaudited<br>Dollar values in millions, except per share amounts or<br>otherwise noted<br>For the Year Ended,<br>(Continued) |
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| Non-GAAP to GAAP Reconciliations (continued)<br>27<br>2022Y 2023Y 2024Y 2024Q3 2024Q4 2025Q1 2025Q2 2025Q3<br>Year to Date<br>2025<br>Performance ratios (4)<br>GAAP return on assets 1.16% 1.14% 1.09% 1.20% 1.09% 1.02% 0.60% 0.78% 0.79%<br>Core return on assets (2) (A/F) 1.17 1.15 1.09 1.20 1.09 1.04 1.06 1.35 1.15<br>Pre-tax, pre-provision return on assets (S/F) 1.54 1.53 1.37 1.37 1.44 1.32 0.79 1.30 1.14<br>Core pre-tax, pre-provision return on assets (2) (U/F) 1.49 1.54 1.37 1.37 1.45 1.35 1.39 1.71 1.49<br>GAAP return on equity 10.91 10.88 9.75 10.68 9.52 8.88 5.21 6.99 7.02<br>Core return on equity (2) (A/G) 10.96 10.96 9.72 10.68 9.57 9.09 9.19 12.16 10.20<br>Return on tangible equity 16.20 15.84 13.72 14.90 13.23 12.27 7.26 10.07 9.90<br>Core return on tangible equity (1) (2) (A+Q)/H 16.26 15.96 13.67 14.90 13.29 12.57 12.66 17.23 14.27<br>Efficiency ratio (2) (5) (D-O-Q)/(C+N) 59.08 58.47 61.83 62.09 59.84 62.00 62.10 56.70 60.02<br>Net interest margin, fully taxable equivalent (2) (B+P)/E 3.36 3.29 3.15 3.15 3.17 3.17 3.23 3.56 3.32<br>Supplementary data (in thousands)<br>Taxable equivalent adjustment for efficiency ratio (N) $ 2,020 $ 2,392 $ 2,455 $ 686 $ 718 $ 717 $ 706 $ 738 2,161<br>Franchise taxes included in non-interest expense (O) 583 638 538 138 139 131 141 158 430<br>Tax equivalent adjustment for net interest margin (P) 1,398 1,550 1,905 550 578 568 560 574 1,702<br>Intangible amortization (Q) 932 932 932 233 233 233 233 466 932<br>(1) Assumes a marginal tax rate of 24.26% in the first and second quarters 2025, 23.73% in the fouth quarter 2024, 23.82% in the second and third quarter 2024, 24.01% in the first quarter 2024 and the fourth<br>quarter 2023, 23.80% for the first three quarters of 2023, 23.53% for the fourth quarter 2022.<br>(2) Non-GAAP financial measure.<br>(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.<br>(4) All performance ratios are based on average balance sheet amounts, where applicable.<br>(5) Efficiency ratio is computed by dividing core non-interest expense net of franchise taxes and intangible amortization divided by core revenue on a fully taxable equivalent basis.<br>(6) The $4.9 million loss represents a $4.5 million loss on corporate debt securities and $549 thousand on a matured debt security.<br>Audited Unaudited<br>Dollar values in millions, except per share amounts or<br>otherwise noted<br>For the Year Ended, |
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