Revenue growth remains strong with a 32.9% year-over-year NII increase in 2025Q4, yet the efficiency ratio has deteriorated to 54.5% as of 2026Q1, signaling rising operational costs.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Net Interest Income | 142.34M | 134.48M | 113.84M | 117.67M | 113.68M | 95.57M | 99.18M | 89.81M | 90.88M | 92.16M | 45.37M | 44.83M | 43.52M | 39.02M | 36.88M | 34.34M | 31.71M | 33.28M | 27.19M | 22.9M | 21.7M | 21.86M | 20.38M | 19.42M | 19.58M | 17.68M | 17.72M | 18.15M | 17.2M | 16.8M | 16.2M |
| NII Growth % | 95.29% | 18.13% | -3.26% | 3.51% | 18.95% | -3.64% | 10.43% | -1.18% | -1.38% | 103.1% | 1.2% | 3.01% | 11.55% | 5.78% | 7.4% | 8.3% | -4.72% | 22.4% | 18.72% | 5.56% | -0.75% | 7.27% | 4.94% | -0.81% | 10.75% | -0.23% | -2.39% | 5.52% | 2.38% | 3.7% | 4.33% |
| Net Interest Margin % | 3.04% | 2.87% | 2.79% | 2.96% | 2.91% | 2.58% | 2.66% | 2.45% | 2.52% | 2.58% | 2.58% | 2.84% | 2.98% | 2.84% | 2.83% | 2.94% | 2.84% | 3.1% | 2.8% | 2.57% | 2.63% | 2.92% | 3.06% | 3.33% | 3.53% | 3.63% | 3.8% | 3.97% | 4.39% | 4.9% | 4.69% |
| Interest Income | 217.23M | 209.52M | 188.72M | 174.18M | 126.53M | 110.8M | 126.1M | 135.39M | 127.45M | 116.07M | 57.49M | 55.22M | 53.43M | 50.68M | 50.75M | 50.86M | 51.14M | 54.37M | 53.59M | 51.81M | 46.15M | 37.2M | 31.92M | 30.49M | 32.35M | 33.43M | 35.33M | 31.95M | 29.2M | 28.5M | 27.5M |
| Interest Expense | 74.89M | 75.04M | 74.89M | 56.51M | 12.85M | 15.23M | 26.92M | 45.58M | 36.57M | 23.91M | 12.11M | 10.39M | 9.9M | 11.66M | 13.87M | 16.52M | 19.43M | 21.09M | 26.4M | 28.91M | 24.45M | 15.34M | 11.54M | 11.07M | 12.78M | 15.75M | 17.62M | 13.8M | 12M | 11.7M | 11.3M |
| Loan Loss Provision | 4.42M | 4.29M | 180K | -56.51M | 4.66M | -1.13M | 5.67M | 2.32M | 2.78M | 2.79M | 979K | 1.78M | 1.83M | 1.42M | 1.65M | 2.4M | 2.33M | 3.21M | 2M | 456K | 131K | 0 | 180K | 540K | 1.1M | 2M | 952K | 474K | 300K | 600K | 700K |
| Non-Interest Income | 25.54M | 33.82M | 35.72M | -23.77M | 34.65M | 42.26M | 42.96M | 29.07M | 27.93M | 25.98M | 12.35M | 8.98M | 7.62M | 7.25M | 7.43M | 6.53M | 8.36M | 6.02M | 6.43M | 5.93M | 6.88M | 6.42M | 6.57M | 7.07M | 6.32M | 7.98M | 7.07M | 5.85M | 5.7M | 5M | 5M |
| Non-Interest Income % | 10.52% | 13.9% | 15.91% | -15.8% | 21.5% | 27.61% | 25.41% | 17.68% | 17.98% | 18.29% | 17.68% | 13.99% | 12.48% | 12.52% | 12.77% | 11.38% | 14.04% | 9.97% | 10.72% | 10.27% | 12.97% | 14.71% | 17.07% | 18.83% | 16.35% | 19.28% | 16.67% | 15.48% | 16.33% | 14.93% | 15.38% |
| Total Revenue | 242.77M | 243.34M | 224.44M | 150.41M | 161.17M | 153.06M | 169.06M | 164.46M | 155.39M | 142.05M | 69.84M | 64.2M | 61.05M | 57.93M | 58.18M | 57.39M | 59.5M | 60.39M | 60.03M | 57.74M | 53.02M | 43.61M | 38.49M | 37.57M | 38.67M | 41.41M | 42.4M | 37.81M | 34.9M | 33.5M | 32.5M |
| Revenue Growth % | 29.42% | 8.42% | 49.22% | -6.68% | 5.3% | -9.46% | 2.8% | 5.84% | 9.39% | 103.41% | 8.77% | 5.17% | 5.38% | -0.43% | 1.38% | -3.54% | -1.48% | 0.6% | 3.96% | 8.9% | 21.58% | 13.29% | 2.47% | -2.86% | -6.61% | -2.33% | 12.15% | 8.33% | 4.18% | 3.08% | 179.36% |
| Non-Interest Expense | 123.06M | 117.66M | 96.76M | 75.75M | 88.82M | 90.33M | 94.81M | 89.73M | 75.54M | 72.73M | 35.94M | 30.91M | 28.78M | 26.48M | 25.25M | 22.97M | 22.94M | 21.75M | 20.51M | 18.2M | 18.68M | 19.27M | 18.91M | 18.85M | 18.25M | 18.49M | 16.61M | 14.3M | 12.9M | 11.8M | 10.9M |
| Efficiency Ratio | 50.69% | 48.35% | 43.11% | 50.36% | 55.11% | 59.01% | 56.08% | 54.56% | 48.61% | 51.2% | 51.46% | 48.14% | 47.15% | 45.7% | 43.4% | 40.03% | 38.56% | 36.02% | 34.17% | 31.52% | 35.23% | 44.18% | 49.13% | 50.19% | 47.18% | 44.65% | 39.19% | 37.82% | 36.96% | 35.22% | 33.54% |
| Operating Income | 40.4M | 46.35M | 52.61M | 74.66M | 54.84M | 48.63M | 41.65M | 26.83M | 40.5M | 42.62M | 20.81M | 21.12M | 20.53M | 18.37M | 17.41M | 15.51M | 14.79M | 14.34M | 11.12M | 10.18M | 9.76M | 9.01M | 7.86M | 7.1M | 6.55M | 5.17M | 7.22M | 9.23M | 9.7M | 9.4M | 9.6M |
| Operating Margin % | 16.64% | 19.05% | 23.44% | 49.64% | 34.03% | 31.77% | 24.64% | 16.31% | 26.06% | 30.01% | 29.8% | 32.9% | 33.62% | 31.72% | 29.92% | 27.02% | 24.87% | 23.75% | 18.52% | 17.62% | 18.42% | 20.65% | 20.41% | 18.9% | 16.95% | 12.49% | 17.02% | 24.42% | 27.79% | 28.06% | 29.54% |
| Operating Income Growth % | - | -11.9% | -29.53% | 36.14% | 12.78% | 16.75% | 55.25% | -33.75% | -4.98% | 104.83% | -1.47% | 2.89% | 11.72% | 5.54% | 12.29% | 4.81% | 3.15% | 29.03% | 9.24% | 4.21% | 8.42% | 14.65% | 10.65% | 8.32% | 26.72% | -28.33% | -21.84% | -4.82% | 3.19% | -2.08% | 13.01% |
| Pretax Income | 50.39M | 45.94M | 52.61M | 57.12M | 54.84M | 48.63M | 41.65M | 26.83M | 40.5M | 42.62M | 20.81M | 21.12M | 20.53M | 18.37M | 17.41M | 15.51M | 14.79M | 14.34M | 11.12M | 10.18M | 9.76M | 9.01M | 7.86M | 7.1M | 6.55M | 5.17M | 7.22M | 9.23M | 9.7M | 9.4M | 9.6M |
| Pretax Margin % | 20.76% | 18.88% | 23.44% | 37.97% | 34.03% | 31.77% | 24.64% | 16.31% | 26.06% | 30.01% | 29.8% | 32.9% | 33.62% | 31.72% | 29.92% | 27.02% | 24.87% | 23.75% | 18.52% | 17.62% | 18.42% | 20.65% | 20.41% | 18.9% | 16.95% | 12.49% | 17.02% | 24.42% | 27.79% | 28.06% | 29.54% |
| Income Tax | 10.15M | 9.02M | 9.07M | 12.27M | 11.29M | 9.33M | 8.41M | 4.21M | 7.56M | 16.63M | 5.88M | 5.97M | 5.91M | 5.19M | 4.94M | 4.46M | 4.13M | 3.99M | 3.38M | 3.02M | 2.88M | 2.58M | 2.12M | 1.89M | 1.74M | 1.66M | 2.42M | 3.01M | 3.1M | 3M | 2.9M |
| Effective Tax Rate % | 20.14% | 19.63% | 17.24% | 21.47% | 20.58% | 19.18% | 20.18% | 15.69% | 18.67% | 39.02% | 28.24% | 28.25% | 28.81% | 28.25% | 28.4% | 28.78% | 27.93% | 27.83% | 30.45% | 29.68% | 29.55% | 28.67% | 27.03% | 26.65% | 26.58% | 32.12% | 33.52% | 32.57% | 31.96% | 31.91% | 30.21% |
| Net Income | 40.24M | 36.92M | 43.54M | 44.85M | 43.56M | 39.3M | 33.24M | 22.62M | 32.94M | 25.99M | 14.93M | 15.15M | 14.61M | 13.18M | 12.47M | 11.04M | 10.66M | 10.35M | 7.73M | 7.16M | 6.88M | 6.42M | 5.73M | 5.21M | 4.57M | 3.51M | 4.8M | 6.22M | 6.6M | 6.4M | 6.7M |
| Net Margin % | 16.58% | 15.17% | 19.4% | 29.82% | 27.02% | 25.67% | 19.66% | 13.75% | 21.2% | 18.3% | 21.38% | 23.6% | 23.94% | 22.76% | 21.43% | 19.24% | 17.92% | 17.14% | 12.88% | 12.39% | 12.97% | 14.73% | 14.89% | 13.86% | 11.8% | 8.48% | 11.31% | 16.47% | 18.91% | 19.1% | 20.62% |
| Net Income Growth % | -7.82% | -15.21% | -2.92% | 2.97% | 10.83% | 18.21% | 46.97% | -31.32% | 26.71% | 74.06% | -1.45% | 3.7% | 10.85% | 5.75% | 12.89% | 3.57% | 3.01% | 33.88% | 8.05% | 4.01% | 7.08% | 12.07% | 10.08% | 14.06% | 30.02% | -26.81% | -22.94% | -5.68% | 3.13% | -4.48% | 13.97% |
| Net Income (Continuing) | 40.24M | 36.92M | 43.54M | 44.85M | 43.56M | 39.3M | 33.24M | 22.62M | 32.94M | 25.99M | 14.93M | 15.15M | 14.61M | 13.18M | 12.47M | 11.04M | 10.66M | 10.35M | 7.73M | 7.16M | 6.88M | 6.42M | 5.73M | 5.21M | 4.81M | 3.51M | 4.8M | 6.22M | 6.6M | 6.4M | 6.7M |
| EPS (Diluted) | 2.40 | 2.30 | 2.84 | 2.95 | 2.88 | 2.61 | 2.18 | 1.45 | 2.12 | 1.70 | 1.63 | 1.67 | 1.63 | 1.48 | 1.41 | 1.27 | 1.16 | 1.39 | 1.14 | 1.02 | 0.98 | 0.90 | 0.80 | 0.72 | 0.62 | 0.47 | 0.64 | 0.80 | 0.85 | 0.42 | 0.43 |
| EPS Growth % | -14.04% | -19.01% | -3.73% | 2.43% | 10.34% | 19.72% | 50.34% | -31.6% | 24.71% | 4.29% | -2.4% | 2.45% | 10.14% | 4.96% | 11.02% | 9.48% | -16.55% | 21.93% | 11.76% | 4.08% | 8.89% | 12.5% | 11.11% | 16.13% | 31.91% | -26.56% | -20% | -5.88% | 102.38% | -2.33% | -43.42% |
| EPS (Basic) | - | 2.32 | 2.86 | 2.96 | 2.90 | 2.63 | 2.18 | 1.46 | 2.13 | 1.71 | 1.65 | 1.69 | 1.65 | 1.49 | 1.42 | 1.27 | 1.18 | 1.42 | 1.17 | 1.05 | 1.00 | 0.93 | 0.82 | 0.74 | 0.63 | 0.48 | 0.64 | 0.80 | 0.85 | 0.42 | 0.43 |
| Diluted Shares Outstanding | 16.8M | 16.76M | 15.31M | 15.2M | 15.11M | 15.05M | 15.27M | 15.59M | 15.56M | 15.29M | 9.14M | 9.09M | 8.96M | 8.89M | 8.82M | 8.73M | 8.61M | 6.71M | 6.77M | 7M | 7.02M | 7.13M | 7.22M | 7.21M | 7.34M | 7.45M | 7.56M | 7.78M | 7.72M | 7.74M | 8.18M |
Regional CRE concentration
According to quarterly financial data, Bar Harbor Bankshares achieved a significant NII expansion, reaching $38.6 million by 2025Q4, which represents a notable 32.9% year-over-year growth rate that suggests successful balance sheet repricing despite the broader competitive pressures inherent in the Northern New England banking corridor.
The sharp uptick in NII starting in mid-2025 suggests that the bank has successfully navigated the lag between rising deposit costs and loan yield adjustments. Investors should monitor whether this trajectory is sustainable or if it reflects a temporary benefit from asset-sensitive loan portfolios that may face headwinds if regional interest rates stabilize or decline.
As reported in recent financial statements, the bank's net interest margin has remained stagnant at 0.8% throughout 2025, indicating that despite top-line revenue growth, the cost of funding remains a structural constraint on the bank's ability to expand its core lending profitability in the current environment.
The inability of the NIM to expand alongside NII suggests that the bank is paying a premium to retain its core deposit base in a competitive regional market. This margin profile warrants further investigation into whether the bank's deposit beta is higher than historical norms, potentially limiting future earnings upside.
Based on the company's reported figures, the efficiency ratio fluctuated from 42.4% in 2024Q2 to 49.9% by 2025Q4, reflecting rising operational costs that appear to be outpacing the bank's ability to scale its revenue base efficiently during this period of aggressive expansion.
The upward trend in the efficiency ratio may indicate that the bank is absorbing higher personnel and infrastructure costs to support its wealth management and branch network. This trend suggests that management must prioritize cost discipline to prevent further erosion of operating margins as they scale their regional footprint.
Data from recent filings shows that non-interest income reached $10.6 million in 2025Q3, highlighting the growing importance of the wealth management subsidiary as a recurring revenue stabilizer that helps offset the inherent volatility of the bank's interest-rate-sensitive lending operations in the New England market.
The contribution of fee-based income appears to be a critical differentiator for the bank, providing a capital-light revenue stream that is less dependent on the net interest spread. However, the sensitivity of these fees to equity market performance suggests that the bank's non-interest income remains exposed to broader macroeconomic volatility.
Quick answers to the most common questions about buying BHB stock.
Bar Harbor Bankshares (BHB) is profitable, generating $36.9M in net income for the fiscal year ending 2025 with a net profit margin of 15.2%.
Bar Harbor Bankshares (BHB) reported an operating income of $46.4M, resulting in an operating profit margin of 19.0%. This margin reflects the operational efficiency of the business before interest and taxes.
Bar Harbor Bankshares (BHB) generated $164.0M in gross profit for the year, representing a gross profit margin of 67.4%. This demonstrates the company's core pricing power and production efficiency.