BAR HARBOR — Bar Harbor Bankshares, the parent company of Bar Harbor Bank & Trust, recently announced net income of $2.6 million for the quarter ended March 31, 2009, compared with $2.0 million for the first quarter of 2008.
That represents an increase of $673,000 or 34.5 percent. The company’s fully diluted earnings per share amounted to 82 cents for the first quarter of 2009, compared with 64 cents for the first quarter of 2008, representing an increase of 18 cents or 28.1 percent.
In making the announcement, the company’s president and chief executive officer, Joseph M. Murphy said, “Despite the deepening economic recession and well publicized problems being suffered by a large segment of the banking and financial services industry, Bar Harbor Bankshares is off to a remarkably vigorous start in 2009. We are delighted to report very strong earnings and earnings per share, solid earning asset growth, and a healthy financial condition.”