BAR HARBOR — Bar Harbor Bankshares, the parent company of Bar Harbor Bank & Trust, recently announced financial results for the three months ended March 31, 2012.
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BAR HARBOR — Bar Harbor Bankshares, the parent company of Bar Harbor Bank & Trust, recently announced financial results for the three months ended March 31, 2012.
The company reported record net income of $3.2 million, representing an increase of $294,000, or 10.2 percent, compared with the first quarter of 2011.
Diluted earnings per share amounted to 81 cents for the quarter compared with 74 cents in the first quarter of 2011, representing an increase of 7 cents, or 9.5 percent.
“We are encouraged to have started the year with record quarterly earnings, continued loan growth, improving credit quality and an expanding net interest margin,” said Joseph M. Murphy, the company’s president and chief executive officer.
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