Bath Savings is a proud supporter of Wolfe’s Neck Center, a nonprofit research and education center, and working organic farm situated on over 600 acres of conserved coastal landscape in Freeport.
Financial Reports
| 2024 | 2023 | |
|---|---|---|
| Interest & Dividend Income | ||
| Interest & Fees on Loans | $42,112,569 | $36,673,712 |
| Interest & Dividends on Investments | 15,795,041 | 15,217,697 |
| Interest on Federal Funds Sold | 1,355,401 | 665,744 |
| Total Interest & Dividend Income | $59,263,011 | $52,557,153 |
| Interest Expense | 26,970,098 | 19,218,024 |
| Net Interest Margin | 32,292,913 | 33,339,129 |
| Other Income | 12,412,071 | 10,864,170 |
| Operating Expenses | ||
| Compensation & Employee Benefits | 16,702,104 | 16,187,921 |
| Expense of Premises & Fixed Assets | 7,829,328 | 7,784,915 |
| Provision for Credit Losses | 714,289 | 337,251 |
| FDIC & Other Insurance | 743,911 | 764,781 |
| Other Operating Expenses | 5,995,133 | 5,904,586 |
| Total Operating Expenses | $31,984,765 | $30,979,454 |
| Income Before Taxes, Net Gain (Loss) on Sale of Assets | 12,720,219 | 13,223,845 |
| Provisions for Taxes | (1,795,785) | (2,000,415) |
| Net Income from Operating Activities | $10,924,434 | $11,223,430 |
| Changes in Market Value of Certain Assets | ||
| Market Value Changes on Equity Securities | 6,129,573 | 5,921,798 |
| Tax Expense on Market Value Changes | (1,301,522) | (1,288,810) |
| Market Value Change Net of Taxes | 4,828,051 | 4,632,988 |
| Net Income | $15,752,485 | $15,856,418 |