Katahdin Bankshares Reports 1st Quarter Earnings
April 24 2012 - 4:27PM
Katahdin Bankshares Corp. (OTCQB:KTHN) parent company of Katahdin
Trust Company, today announced 1st quarter earnings of $1 million.
Total assets grew to nearly $550,000,000 which President & CEO,
Jon J. Prescott attributed to very strong loan growth of
$40,372,000. Deposits also continued to grow, especially in the
core checking and savings categories, up $24,075,000 over the prior
year.
The Bank is on schedule to open its 17th branch
location and 3rd location in the greater Bangor area on May 21 in
The Christmas Tree Shops Plaza on Springer Drive, Bangor. In
commenting on this new office Prescott stated that to better serve
the Bank's business customers in the Bangor area the commercial
loan office located at 12 Stillwater Avenue in Bangor will be
relocating to this new location on Springer Drive, providing
customers with a full array of business and personal loan and
deposit services all from one convenient location.
The Company issued a first quarter cash dividend on
March 26th of $.09 per share which was 9.8% above the first quarter
of 2011.
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
(207) 521-0455, Ext. 135
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