These non-GAAP measures are intended to provide the reader with additional supplemental perspectives on operating results, performance trends, and financial condition. The Company is not undertaking an obligation to update forward-looking statements, even though its situation may change in the future, except as required under federal securities law.Non-GAAP Financial StatementsThis document contains certain non-GAAP financial measures in addition to results presented in accordance with accounting principles generally accepted in the United States of America (GAAP). Analysts also rely on these measures in estimating and evaluating the Companys performance. Bar Harbor Bankshares (BHB) is a Top Dividend Stock Right Now: Should You Buy? Averages Total average earning assets(E)$3,388$3,359$3,398$3,412$3,440$3,373Total average assets (F)3,756 3,717 3,746 3,764 3,764 3,718 Total average shareholders equity (G)408 407 413 421 423 414 Performance ratios GAAP return on assets 0.92%1.03%0.97%1.16%1.02%1.06%Core return on assets2(A/F)0.98%1.11%1.01%1.16%1.07%1.10%GAAP return on equity 8.42%9.45%8.77%10.38%9.16%9.50%Core return on equity2(A/G)8.99%10.14%9.14%10.39%9.60%9.87%Efficiency ratio2,3(D-O-Q)/(C+N)61.98%61.95%63.45%59.18%60.74%61.29%Net interest margin(B+P)/E3.02%2.88%2.74%3.02%2.79%2.88%Supplementary DataTaxable equivalent adjustment for efficiency ratio(N)$542$595$586$576$573$2,330Franchise taxes included in non-interest expense(O)117 125 128 143 132 528 Tax equivalent adjustment for net interest margin(P)396 433 430 421 369 1,653 Intangible amortization(Q)256 241 233 233 233 940 Dollar values in thousands, except per share amounts or otherwise noted2020Q42021Q12021Q22021Q32021Q4YTD 2021, Interest Rate Risk Analysis22On a quarterly basis, the company measures and reports NII and EVE at risk to isolate the change in income and value related solely to interest-earning assets and interest-bearing liabilities. Confirm that Broadridge is the transfer agent - our name will usually appear on the certificate. For financial reporting, their fiscal year ends on December 31st. Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. 7021: Chartered Banks State Commercial Banks 6022, Director; President and Chief Executive Officer of the Company and BHBT, Executive Vice President, Chief Financial Officer and Treasurer of the Company and BHTS, Executive Vice President, Chief Operating Officer and Chief Risk Officer of BHBT, Executive Vice President and Chief Lending Officer of BHBT, Executive Vice President and Director of Retail Delivery of BHBT, Senior Vice President and Chief Human Resources Officer of BHBT, Bar Harbor Bank & Trust / Bar Harbor Bankshares. Make the selection by filling out the form on your account statement and returning it to Broadridge. Non-GAAP adjustments are presented net of an adjustment for income tax expense. Note that this is different from having your signature notarized. A members-only investing club that helps you grow your portfolio with In some cases additional documents will be required to complete the transfer. Notice: This page details filings for BAR HARBOR BANKSHARES. Action Alerts PLUS is a registered trademark of TheStreet, Inc. 5 RULES FOR TRADING DURING EARNINGS SEASON, MANAGING YOUR TRADING DURING A BEAR MARKET. Please indicate if the registered stockholder is deceased so the appropriate documents may be forwarded to you. A notary stamp is not acceptable when transferring the ownership of stock. Registered shareholders receive dividends, proxies and other communications directly from the corporation via the transfer agent or the corporation directly. 2022 Broadridge Financial Solutions, Inc. If you wish to move your shares from registered to beneficial ownership, Broadridge or your broker will help you do so. The Bank operates over 50 banking branches in Maine, New Hampshire, and Vermont. A registered shareholder is the owner of record on the books of the corporation, generally kept by the transfer agent. Jul 29, 16:00, Bar Harbor Bankshares Posts Higher Q2 Core Earnings, Revenue, Bar Harbor Bankshares (BHB) Matches Q2 Earnings Estimates, -- Earnings Flash (BHB) BAR HARBOR BANKSHARES Posts Q2 Revenue $35.5M, -- Earnings Flash (BHB) BAR HARBOR BANK AND TRUST Posts Q2 EPS $0.70, Bar Harbor Bankshares Reports Second Quarter Results; Declares Dividend, Why Bar Harbor Bankshares (BHB) is a Top Dividend Stock for Your Portfolio. Learn more at barharbor.bank and barharborwealth.com. TheStreets Single Smartest Insight From The Day. Example: Mary Smith is preferred instead of M Smith. How do I transfer my stock and retain as registered shares? For additional discussion of such factors, please see the Companys most recent reports on Forms 10-K and 10-Q filed with the Securities and Exchange Commission and available on the SECs website at www.sec.gov. Otherwise, if your shares are not part of such plans, you must take your certificate(s) to a securities broker to sell the shares. To sell shares that are held in a plan, please refer to the FAQ section on "Stock and Dividend Plans. Once you notify us of your certificate loss, we will initiate the process for you and then ask that you finalize the paperwork and submit the appropriate payment for processing.
If you do not have this information, you should call our Lost Securities Department at the 800 number on this site. The Company views these amounts as important to understanding its operating trends, particularly due to the impact of accounting standards related to acquisition activity. There are several factors that could cause actual results to differ significantly from expectations described in the forward-looking statements, including deterioration in local economies or real estate markets or in the generaleconomy or financial markets, interest rate volatility, loss of deposits or changes in deposit mix, insufficient wholesale funding sources, competition from an ever-increasing array of financial service providers, and challenges from expansion, growth and acquisitions. actually invest, trade, and manage money for a living. 2022 TheStreet, Inc. All rights reserved. The information contained in this Item 7.01, including Exhibit 99.1 attached hereto, is intended to be furnished and will not be deemed to be filed for any purpose, including for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of such section, nor will such information or exhibit be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, except as may be expressly set forth by specific reference in such filing. Visit your online account and change your investment elections in the appropriate plan section. Certificates will not be issued for shares held in a plan. DRIPs offer shareholders the convenience of reinvesting dividends, minimizing the expense and effort associated with dividend checks. NYAM | A copy of the investor presentation is furnished as Exhibit 99.1 to this report and is incorporated by reference herein. In all cases, it should be understood that non-GAAP measures do not depict amounts that accrue directly to the benefit of shareholders. Management also believes that the computation of non-GAAP core earnings and core earnings per share may facilitate the comparison of the Company to other companies in the financial services industry. The costs associated with DSPPs may be higher or lower than the costs of using a broker. If you hold shares in DRS Book-Entry (no certificate), please follow the steps below: How do I transfer registered shares to beneficial or street shares via my broker? Some plans do require that investors own a minimum number of shares prior to participating in a plan. Box 1342 Brentwood, NY 11717 Phone:1-877-456-4860 Fax:215-553-5402 shareholder@broadridge.com. You may obtain a surety bond from our independent insurance provider, The Chubb Corporation. Common Equity / Tang. Its products and services consist of checking, deposits, cards, mobile banking, online services, loans, merchant services, trust and fiduciary services, investment planning, education funding, individual retirement planning, insurance and risk management services. PURSUANT TO SECTION 13 OR 15(D) OFTHE SECURITIES EXCHANGE ACT OF 1934, Date of Report (Date of earliest event reported): February 28, 2022, (Exact Name of Registrant as Specified in its Charter), (State or Other Jurisdiction)of Incorporation), Registrants telephone number, including area code: (207) 288-3314, (Former Name or Former Address, if Changed Since Last Report). You will find the information under the "Plan Purchase Options" section of the website. Bar Harbor (BHB) Stock Jumps 8.6%: Will It Continue to Soar? 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, Name of each exchange on which registered. Include any additional instructions indicating how you wish the shares to be transferred. This quarters results were below the standards we have set for the company and our shareholders," said CEO Pat Gelsinger.
Transfer agents are obligated to ensure that such stamps appear on the transfer documents and are entitled to refuse a transfer of shares if a signature is not guaranteed with a stamp. 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. If the stock issuer supports these stock options, you may deposit your certificated share(s) into the DRS Book Entry form or Plan form in order to sell through Broadridge. GAAP net income8,640 9,480 9,025 11,028 9,766 39,299 Plus (less):Gain sale of securities, net(3,959) - (50) (1,930) (890) (2,870) (Gain) loss on sale of fixed assets, net(122) 8 1 (146) 515 378 Loss on other real estate owned(11) - - - - - Loss on debt extinguishment- - - 1,768 1,083 2,851 Acquisition, restructuring and other expenses4,849 889 552 318 (92) 1,667 Income tax expense1(179) (213) (119) (2) (144) (479) Total core earnings2 (A)9,218$ 10,164$ 9,409$ 11,036$ 10,238$ 40,846$ Net-interest income(B)$25,362$23,422$22,754$25,582$23,81595,573 Plus: Non-interest income 14,723 10,248 9,505 11,350 11,158 42,261 Total Revenue 40,085 33,670 32,259 36,932 34,973 137,834 Plus: Gain on sale of securities, net (3,959) - (50) (1,930) (890) (2,870) Total core revenue2 (C)$36,126$33,670$32,209$35,002$34,083134,964 Total non-interest expense 27,816 22,491 21,724 23,372 22,921 90,508 Less: Gain (loss) on sale of premises and equipment, net122 (8) (1) 146 (515) (378) Less: Loss on other real estate owned11 - - - - - Less: Loss on debt extinguishment- - - (1,768) (1,083) (2,851) Less: Acquisition, restructuring and other expenses (4,849) (889) (552) (318) 92 (1,667) Core non-interest expense2 (D)$23,100$21,594$21,171$21,432$21,41585,612 YTD 2021Dollar values in thousands, except per share amounts or otherwise noted2020Q42021Q12021Q22021Q32021Q4, Non-GAAP to GAAP Reconciliations (continued)211Assumes a marginal tax rate of 23.71%.2Non-GAAP financial measure.3Efficiency ratio is computed by dividing core non-interest expense net of franchise taxes and intangible amortization divided bycore revenue on a fully taxable equivalent basis. Please send us a letter of instruction signed by all registered owners stating your intent to transfer. A reconciliation of non-GAAP financial measures to GAAP measures is provided in the first quarter of earnings release, which can be found at www.bhbt.com/shareholder-relations. Notification via fax to: (215) 553-5402; attention Lost Securities Dept. Mail your certificates to Broadridge at the address below with a completed Legal Transfer Form which can be downloaded at the right: The Legal Transfer Form must be appropriately signed by all registered holders, exactly as the name(s) appear on the face of the certificate(s) or must be accompanied by a stock power bearing the appropriate signature(s). Assets7.51%7.60%7.90%8.32%7.73%8.22%8.08%8.32%Tier 1 Leverage Ratio8.53%8.13%8.12%8.66%8.27%8.36%8.54%8.66%Total Risk-Based Capital Ratio14.23%13.61%13.56%14.32%13.83%13.96%14.12%14.32%Net Income$33.0$22.6$32.2$39.3$9.0$9.1$11.0$9.8Core ROAA0.99%0.82%0.93%1.10%1.11%1.01%1.16%1.07%Core ROAE9.79%7.65%8.68%9.87%10.14%9.14%10.39%9.60%Net Interest Margin2.87%2.77%2.97%2.88%2.78%2.67%2.75%2.79%Efficiency Ratio59.27%64.95%61.71%61.29%61.95%63.45%59.18%60.74%NPLs / Loans0.73%0.65%0.48%0.40%0.55%0.54%0.48%0.40%NPAs / Assets0.57%0.42%0.33%0.27%0.38%0.37%0.33%0.27%Reserves / Loans0.56%0.66%0.74%0.90%0.93%0.91%0.89%0.90%NCOs / Average Loans0.05%0.03%0.07%0.01%0.03%0.01%0.03%-0.02%Yield on Earning Assets4.00%4.14%3.87%3.33%3.46%3.24%3.41%3.10%Cost of Interest Bearing Deposits0.98%1.27%0.78%0.36%0.51%0.45%0.27%0.24%Cost of Total Interest Bearing Liabilities1.31%1.61%0.96%0.59%0.72%0.66%0.50%0.41%Current Stock Price$28.93Price / BV102%52 Week High$32.94Price / TBV146%52 Week Low$21.26Price / LTM EPS11.08xMarket Capitalization$434.0Dividend Yield3.32%Asset QualityYield and CostMarket Information For the Quarter Ended,Dollar values in millions, except per share amounts or otherwise notedFor the Year Ended,Balance SheetCapitalEarnings & Profitability, Non-GAAP to GAAP Reconciliations201Assumes a marginal tax rate of 23.71%.2Non-GAAP financial measure.3Efficiency ratio is computed by dividing core non-interest expense net of franchise taxes and intangible amortization divided bycore revenue on a fully taxable equivalent basis.
Item 9.01 Financial Statements and Exhibits, Cover Page Interactive Data File the cover page XBRL tags are embedded within the Inline XBRL document. The Companys non-GAAP core earnings information set forth is not necessarily comparable to non-GAAP information which may be presented by other companies.
Please refer to page two of the Legal Transfer Form for additional document requirements based on your stock transferring situation. Signature Guarantee Programs have been developed and eligible financial institutions which subscribe to such programs are issued "Medallion Guarantee Stamps". A custodial registration requires the names of the custodian and the beneficial owner. The Company also adjusts certain equity related measures to exclude intangible assets due to the importance of these measures to the investment community.
An item which management excludes when computing non-GAAP adjusted earnings can be of substantial importance to the Companys results for any particular quarter or year. A custodial registration for a minor is a common form of this registration type. IMPORTANT: You must be able to provide the name of the security, the certificate number(s), the name of the registered owner(s), and the number of shares in all communications. Dividend Reinvest Plans (DRIP) and Direct Stock Purchase Plans (DSPP) are plans provided on behalf of corporations to simplify investment activity. Confirm that Broadridge is the transfer agent - our namewill usually appear on your account statement. These instructions should provide the name, address and Social Security Number for each transferee and should indicate the number of shares to be transferred. DRIP - You may elect to have your dividends reinvested in any of the following ways: Make the selection via your online account. In some cases additional documents will be required to complete the transfer. Changing plan electionsYou may change your plan investment decisions by taking the following steps: Selling shares held in a planYou may sell shares held in a plan by taking one of the following steps: When will I receive my 1099?Form 1099s are typically mailed or sent electronically in January according to IRS guidelines. 22, Assets:$3,709Net Loans:$2,509Deposits:$3,049Shareholder Equity:$424NPAs / Total Assets:0.27%Employees (FTE):423 Core Return on Average Assets21.07%Core Return on Average Equity29.60%Net Interest Margin22.79%Stock Price$28.93Market cap (MM)$434Price / LTM Core EPS11.08xPrice / Tangible Book Value (Non GAAP)146%Dividend Yield3.32%Overview of Bar Harbor Bank & TrustWe strive to be one of the most profitable banks in New England; and to provide exceptional service to people, businesses and communities we serveBusiness overviewOver 50 locations spanning Northern New England1$2.5 billion in AUM in wealth management and trustCommercial LPO office in Portland, MaineA second LPO is scheduled to open in VermontDiverse fee income sources have been developedSeasoned management team with strong market knowledge and industry experienceTrack record of generating growthEmployee and customer experience is the foundation of superior performance, which leads to significant financial benefit to shareholdersStrong commitment to risk managementContinued commitment to expanding customer services and products, while growing and diversifying our non-interest income sourcesInvestment in process, products, technology, training, leadership and infrastructureExpansion of the Companys brand and business to deepen market presence3Company OverviewSource: Company filings, includes banking, lending and wealth management service locations across ME, VT and NH1Locations include banking, lending and wealth management services2Ratios calculated on quarter-to-date basisKey Statistics as of December 31, 2021Market Data, Positioned for Future Success52012 -2016Expanded key executives Acquired Border Trust Company (2012)Acquired Lake Sunapee Bank Group (2016)2017 -2019Expanded key lending and retail executivesUpgraded core systemsExpanded treasury services BusinessExpanded footprint in critical Southern New Hampshire and Central Maine geographies2020 and BeyondBranch acquisition and divestiture activitiesExecuted on several profitability initiativesFocusing on diversifying income and opportunistically position the balance sheetMerging wealth business & upgrading systems, Seasoned Management TeamSeasoned LeadershipExecutive team has an average of over 26 years experienceColleagues understand the value of working together to deliver results6Curtis C. SimardPresident & Chief Executive OfficerJoined as President and CEO of Bar Harbor Bank & Trust in June of 2013Served as Managing Director of Corporate Banking for TD BankOver 25+ years of industry experienceJosephine IannelliEVP, Chief Financial Officer & TreasurerJoined in October of 2016Served as EVP, CFO & Treasurer of Berkshire Hills Bancorp as well as various management positions at PNCOver 25+ years of industry experienceJennifer SvensonSVP, Human ResourcesJoined in June of 2019Has over 30+ years of experience in human resources across various financial services industriesMarion ColomboEVP, Director of Retail DeliveryJoined in February of 2018Over 30+ years of experience, including Market President of Retail for TD Bank in BostonJohn MercierEVP, Chief Lending OfficerJoined in April of 2017Over 30+ years of experience in lending throughout the NortheastJohn WilliamsSVP, Chief Risk OfficerJoined in December of 20149+ years in various risk management roles within bankingJason EdgarPresident Bar Harbor Trust Services and Charter Trust CompanyJoined in June of 2019Served as SVP, Director of Wealth Management at Berkshire Hills Bancorp and has over 20+ years industry experienceJoseph ScullySVP, Chief Information Officer & Director of OperationsJoined in January of 2015Over 30+ years of experience in operations, technology & security experience, including the Department of Defense and Financial Institutions, Committed to Building Thriving CommunitiesVolunteer community service hours. Registering shares in the name of a Trust requires that specific information be provided: the name of the trust and/or the maker or beneficiary and the date of the trust instrument. Bar Harbor Bankshares is primarely in the business of state commercial banks. Request that Broadridge facilitate the sale of your shares by completing the form attached to your account statement and returning it to Broadridge. topics pulled from TheStreets premium content. This page includes all SEC registration details as well as a list of all documents (S-1, Prospectus, Current Reports, 8-K, 10K, Annual Reports) filed by Bar Harbor Bankshares. Legal DisclaimerForward Looking StatementsCertain statements contained in this document that are not historical facts may constitute forward-looking statements within themeaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Act of1934, as amended (Exchange Act), and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For example: Mary Jones Tr U/A dtd 4/15/98 The Mary Jones Trust FBO Mary Jones. ", Broadridge Corporate Issuer Solutions P.O. Securities held in a brokerage account, and registered in the name of the broker or other institution, are referred to as being in "street name" or "beneficial shares." Bar Harbor Bankshares Inc is a bank holding company along with its subsidiaries that offers a full range of financial services products, brokerage services through third-party brokerage arrangements and also trust and investment management services to individuals, businesses, non-profit organizations, and municipalities. Each non-GAAP measure used by the Company in this report as supplemental financial data should be considered in conjunction with the Companys GAAP financial information.The Company utilizes the non-GAAP measure of core earnings in evaluating operating trends, including components for core revenue and expense. Despite continued inflationary pressures in fuel, energy, and transportation costs, were making progress on costs," said CEO Andy Jazzy. DSPPs offer investors the opportunity to buy shares directly from the corporation, via the transfer agent, often without involving a broker. Box 1342Brentwood, NY 11717. Include any additional instructions indicating how you wish the shares to be transferred. 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). Change your elections by completing the form on your account statement and returning it to Broadridge. These measures exclude amounts which the Company views as unrelated to its normalized operations, including securities gains/losses, acquisition costs, restructuring costs, legal settlements, and system conversion costs. The registered shareholder may be an individual, a trust, a broker, etc. Your corporation you own stock in may also support a stock sale plan. Several types of Joint Registration exist including Joint Tenants with right of survivorship, Tenants by the Entirety and Tenants in common. 
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