Overview

* Bar Harbor Q2 GAAP net income falls to $6.1 mln, missing analyst expectations, per LSEG data

* Core earnings (Non-GAAP) rise to $10.8 mln or $0.70 per diluted share

* Co receives regulatory approvals for Guaranty Bancorp acquisition

Outlook

* Company sees strategic growth from Guaranty Bancorp acquisition

* Bar Harbor Bankshares ( BHB ) to optimize balance sheet for future growth

Result Drivers

* NET INTEREST MARGIN - Expanded to 3.23% from 3.17%, driven by higher yielding commercial real estate loans

* COMMERCIAL LOAN GROWTH - Achieved 7% growth quarter-to-date, contributing to increased interest income

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Net Miss $6.10 $10.60

Income mln mln (2

Analysts

)

Q2 9.2%

Adjusted

ROE

Q2 Net 3.2%

Interest

Margin

Q2 ROE 5.2%

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy."

* Wall Street's median 12-month price target for Bar Harbor Bankshares ( BHB ) is $32.50, about 3% above its July 21 closing price of $31.52

* The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)