Katahdin Trust Company Reports 2011 Results
26 Janeiro 2012 - 7:01PM
Katahdin Bankshares Corp. (OTCQB:KTHN) parent company of Katahdin
Trust Company, today announced 2011 results.
2011 earnings were $4,561,000, a decrease of 4.0%
from the prior year. "Although earnings are down slightly, we are
very pleased with our continued strong performance in a struggling
economy," said President & CEO, Jon J. Prescott. "Our
results can be attributed in large part to continued strong
operating earnings with good loan growth and ongoing improvement in
our asset quality."
Total assets at December 31st reached a record high
of $527,897,000, up 3.6% from the prior year. Total loans at
$437,796,000 represented an increase of $30,367,000 or 7.5% over
the prior year. Deposits grew by 5.4% over the prior year to
$424,643,000 with core deposit growth representing a majority of
the increase.
Prescott further stated that these type of results
could not have been achieved without the efforts and commitment of
the Bank's 187 employees who work diligently day after day to carry
out the Bank's strategic initiatives. In 2011 the Bank was
recognized for the 5th consecutive year by U.S. Banker Magazine as
one of the Top 200 Community Banks in the United States.
In commenting on 2012 Prescott stated that it would
indeed be a challenging year for banks but also said that this will
not hinder Katahdin Trust Company's growth plans as expansion
efforts continue in the greater Bangor area with the opening of an
office on Springer Drive in the Christmas Tree Shops Plaza. This
will mark the Bank's 17th branch location and its 3rd location in
the greater Bangor area.
The Company issued a fourth quarter cash dividend
on December 26th of $.09 per share which represented an increase of
9.8% over the prior period.
Katahdin Bankshares Corp. stock is quoted on the
OTC Markets quote board OTCQB under the symbol KTHN. Current stock
information can be found at otcmarkets.com/home.
Katahdin Trust Company, established in 1918,
provides banking services to individuals and businesses from 16
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, Marketing & Communications
Katahdin Trust Company
Telephone: (207) 521-0455, Ext. 135
Katahdin Bankshares (QX) (USOTC:KTHN)
Gráfico Histórico do Ativo
De Ago 2024 até Set 2024
Katahdin Bankshares (QX) (USOTC:KTHN)
Gráfico Histórico do Ativo
De Set 2023 até Set 2024