Bar Harbor Bankshares, Inc. · AMEX:BHB
Bar Harbor Bankshares — Investor Presentation (July 2025)
30 slides from Bar Harbor Bankshares's investor presentation, Jul 28, 2025
Slide 1: Investor Presentation
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Slide 2: Legal Disclaimer: Cautionary Statement Regarding Forward-Looking Statements
Legal Disclaimer Cautionary Statement Regarding Forward-Looking Statements This presentation, including any oral statements made regarding the contents of this presentation, contains certain statements that are not historical facts that may constitute forward-looking statements within the meaning of
Slide 3: Legal Disclaimer: Non-GAAP Financial Measures
Legal Disclaimer Non-GAAP Financial Measures This presentation 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”). These non-GAAP measures are intended to provide the reade
Slide 4: A Bank that Thinks Differently
A Bank that Thinks Differently • Employee and customer experience is the foundation of our performance, which leads to financial benefits to our shareholders, including a consistent history of expanding dividends. • Commitment to risk management • Service and sales driven culture with a focus on cor
Slide 5: Overview of Bar Harbor Bank & Trust
Overview of Bar Harbor Bank & Trust • We strive to be one of the most profitable banks in New England; and to provide exceptional service to people, businesses and communities we serve • Business overview as of June 30, 2025 • Over 50 locations spanning Northern New England1 • $3.3 billion in AUM Ba
Slide 6: Senior Executive Team
Senior Executive Team Curtis C. Simard President & Chief Executive Officer • Joined as President & CEO of Bar Harbor Bank & Trust in June of 2013 • Served as Managing Director of Corporate Banking for TD Bank • Over 30+ years of industry experience SVP, Chief Human Resources Officer Alison DiPaola •
Slide 7: Our Markets
Our Markets The Bank serves a wide range of markets in Maine, New Hampshire and Vermont. Within our markets, tourism, agriculture, and the working waterfront remain strong and continue to drive economic activity. These core markets have also maintained their strength through diversification into var
Slide 8: Our strategy is working and the industry is taking notice
Our strategy is working and the industry is taking notice 8
Slide 9: Fostering Sustainable Communities
Fostering Sustainable Communities 9 As a community bank, we recognize that we are successful when our customers and communities prosper. We make significant investments in technology, our people, and branches. Note: Information as of December 31, 2024
Slide 10: Signed Definitive Merger Agreement in Q1: Enhancing our New Hampshire Franchise
Signed Definitive Merger Agreement in Q1 10 Note: Financials reflect bank level call report data for the quarter ended December 31, 2024 Source: S&P Capital IQ Pro Enhancing our New Hampshire Franchise
Slide 11: Merger with Guaranty Bancorp, Inc.
Merger with Guaranty Bancorp, Inc. 11 Financially Attractive Acquisition $4.8B Total Assets $3.9B Total Deposits $3.6B Net Loans $512M Market Cap Pro Forma Combined Company Continued Expansion into Well-Known Markets ~30% 2026 EPS Accretion ~10% TBV Dilution at Closing + 20bps ROAA Accretion 10.3% C
Slide 12: Transaction Highlights
Transaction Highlights 12 (1) Reflects fully phased-in after tax cost savings on Guaranty FY2024 noninterest expense base Note: Market data as of March 7, 2025
Slide 13: BHB Stock Dividend Rate
BHB Stock Dividend Rate • Deliver consistently high dividend yields 13 Peer Average calculated based on the peer group's public filings. Peer group defined in BHB 2025 Proxy, filed on March 31, 2025 3.00% 3.50% 4.00% 4.50% 5.00% Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Dividend Yield Peer Average BHB
Slide 14: BHB: Investment Summary
BHB: Investment Summary • We set out to build a balanced Bank that is not reliant on any one business, with a strong risk-focused culture, and a judicious approach to managing capital through all market conditions. We do this by: • Growing market share as our high-touch, solutions-based service diff
Slide 15: 2025 Year-to-Date Overview
2025 Year-to-Date Overview • Poised for Continued, Profitable Growth • 0.81% return on assets, 1.05% core return on assets1 • 7.03% return on equity, 9.14% core return on equity1 • 4% annualized commercial loan growth • 3.20% net interest margin • 62% efficiency ratio1 • 0.30% non-performing assets
Slide 16: Q2 2025 Overview
Q2 2025 Overview • 0.60% return on assets, 1.06% core return on assets1 • 5.21% return on equity, 9.19% core return on equity1 • 3.23% net interest margin • 62% efficiency ratio1 • 0.30% non-performing assets ratio to total assets • Book value per share of $30.60 Vision Statement Bar Harbor Bankshar
Slide 17: Diversification of Non-Interest Income
Diversification of Non-Interest Income • We have diverse sources of non-interest income that continue to be a significant contribution in any rate environment • Mortgage production is opportunistically managed between balance sheet and secondary market sales • Bar Harbor Wealth Management, along wit
Slide 18: Loans – Focus on Profitability
Loans – Focus on Profitability • Continue to prudently evaluate our loan portfolio mix & strategy • As of Q2 2025, Commercial Loans have increased from 56% to 71% of the Loan Portfolio since Q2 2020 18 56% 63% 64% 67% 69% 71% 39% 33% 32% 30% 28% 25% 5% 4% 4% 3% 3% 4% 0% 10% 20% 30% 40% 50% 60% 70% 8
Slide 19: Credit-Oriented Culture: Asset Quality Remained Strong at Q2 2025
Credit-Oriented Culture Asset Quality Remained Strong at Q2 2025 • Non-accruing loans ended the quarter at 0.31% of total loans, which was up slightly from 0.26% for Q1 2025 • Net loan charge-offs were $257 thousand in Q2 2025, driven by one commercial charge-off totaling $204 thousand. Q1 2025 net
Slide 20: Commercial Real Estate – Office Exposure
Commercial Real Estate – Office Exposure Office portfolio remains sound amid industry challenges Total outstanding office loans of $245 million, or ~ 7.8% of total loans, at Q2 2025 • 85% of total Office Exposure is pass-rated, with 8% rated Substandard or worse • Weighted average risk rating of 4.1
Slide 21: Asset Quality
Asset Quality 21 - 50 100 150 200 250 300 350 400 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Thousands Net Charge Offs $ 0.00% 0.05% 0.10% 0.15% 0.20% 0.25% 0.30% 0.35% Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 NPAs as a % of Total Assets 0.00% 0.05% 0.10% 0.15% 0.20% 0.25% 0.30% 0.35% Q2 2024 Q3 2024 Q4
Slide 22: Deposits – Maintain Portfolio Composition
Deposits – Maintain Portfolio Composition 22 • Stable and consistent deposit trends Non-interest bearing demand 17% Interest-bearing demand 29% Savings 16% Money market 11% Time deposits 27% Deposit Product Mix as of 6/30/2025 74% 75% 75% 74% 73% 26% 25% 25% 26% 27% 0% 10% 20% 30% 40% 50% 60% 70% 80
Slide 23: Continued Commitment to Strong Capital
Continued Commitment to Strong Capital 23 Note: The blue horizontal lines indicate minimum required levels for “well-capitalized” banks Capital ratios for the second quarter 2025 are not yet available 6.00% 7.00% 8.00% 9.00% 10.00% 11.00% 12.00% 13.00% 14.00% 15.00% Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q
Slide 24: Interest Rate Sensitivity Position
Interest Rate Sensitivity Position 24 • The Bank’s net interest income (“NII”) sensitivity is slightly asset sensitive as the bank continues to optimize its mix of higher yielding rate sensitive variable rate assets and lower yielding but less rate sensitive fixed rate assets. • Economic value of eq
Slide 25: Investor Relations Contact Information
Investor Relations Contact Information 25 Facebook @BHBTsocial LinkedIn Bar Harbor Bank & Trust Instagram @BHBTSocial Connect with us on Social Media Visit our Website barharbor.bank/shareholder-relations Contact by Phone 207-288-2637 Write to us at Bar Harbor Bankshares Attn: Investor Relations PO
Slide 26: Appendix
4m BAR HARBOR BANKS BARES Appendix 4 4o~mqy. 4am BAR HARBOR BAR HARBOR BAR HARBOR BANK & TR WEALTH MANAGEMENT FINANCIAL SERVICES
Slide 27: Historical Financial Performance
Historical Financial Performance 27 1 Capital ratios for the second quarter 2025 are not yet available Audited Unaudited 2022Y 2023Y 2024Y 2024Q2 2024Q3 2024Q4 2025Q1 2025Q2 Total Assets $3,910 $3,971 $4,083 $4,034 $4,030 $4,083 $4,063 $4,112 Total Loans 2,903 2,999 3,147 3,064 3,082 3,147 3,124 3,1
Slide 28: Non-GAAP to GAAP Reconciliations
Non-GAAP to GAAP Reconciliations 28 2022Y 2023Y 2024Y 2024Q2 2024Q3 2024Q4 2025Q1 2025Q2 Year to Date 2025 Net income $ 43,557 $ 44,852 $ 43,544 $ 10,257 $ 12,193 $ 10,999 $ 10,211 $ 6,092 $ 16,303 Non-core items: (Gain) loss on available-for-sale debt securities(6) (53) (34) (50) (50) — — — 4,942 4
Slide 29: Non-GAAP to GAAP Reconciliations (continued)
Non-GAAP to GAAP Reconciliations (continued) 29 2022Y 2023Y 2024Y 2024Q2 2024Q3 2024Q4 2025Q1 2025Q2 Year to Date 2025 Total revenue $148,328 $152,748 $150,727 $ 37,216 $ 38,611 $ 38,459 $ 37,925 $ 34,541 $ 72,466 Total non-interest expense 90,579 92,723 95,987 23,842 24,772 23,885 24,651 26,538 51,
Slide 30: Non-GAAP to GAAP Reconciliations (continued)
Non-GAAP to GAAP Reconciliations (continued) 30 2022Y 2023Y 2024Y 2024Q2 2024Q3 2024Q4 2025Q1 2025Q2 Year to Date 2025 Performance ratios (4) GAAP return on assets 1.16% 1.14% 1.09% 1.04% 1.20% 1.09% 1.02% 0.60% 0.81% Core return on assets (2) (A/F) 1.17 1.15 1.09 1.02 1.20 1.09 1.04 1.06 1.05 Pre-t
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