Katahdin Bankshares Reports First Quarter Earnings of $1.1 Million
29 Aprile 2011 - 10:15PM
Katahdin Bankshares Corp. (OTCQB:KTHN) parent company of Katahdin
Trust Company, today announced earnings of $1,134,000 for the first
quarter of 2011. "We are very pleased with our first quarter
results which represented a slight increase over the same period
last year," said Jon J. Prescott President & CEO of Katahdin
Trust Company. Prescott attributed the Bank's consistent
earnings to continued loan growth and the improving quality of the
Bank's loan portfolio.
Total loans at $414,776,000 represented an increase
of $21,607,000 over the same period last year while deposits
increased by $17,145,000 to $403,105,000.
Total assets reached a record high of
$511,567,000.
Prescott also stated that expansion plans were on
target for the June opening of a new branch office in Hampden.
The Company issued a fourth quarter cash dividend
of $.082 per share which was paid on March 28, 2011.
Katahdin Bankshares Corp. stock is quoted on the
OTC Markets quote board OTCQB under the symbol KTHN. Current
stock information can be found on the OTC Markets website at
www.otcmarkets.com/home.
Established in 1918, Katahdin Trust Company
provides banking services to individuals and businesses from 15
offices in northern and central Maine, online at
www.katahdintrust.com and operates commercial loan offices in
Bangor and Scarborough.
The Katahdin Bankshares Corp. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7340
CONTACT: Vicki Smith, Senior Vice President
Katahdin Trust Company
Telephone: (207) 521-0455, Ext. 135
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