Katahdin Trust parent company reports earnings uptick for 2023
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Katahdin Trust Co., based in Houlton, has more than $1 billion in assets.
Katahdin Bankshares Corp. (QTCQX: KTHN), the Houlton-based parent company of Katahdin Trust Co., on Monday reported earnings during last year's fourth quarter of $2.33 million, or 73 cents per share.
For the same quarter in 2022, the bank firm had a net income of $3.2 million, or 98 cents a share.
Earnings for the year totaled $9.9 million, an increase over the 2022 amount of 1.9%.
Total assets reached $1.03 billion as of Dec. 31, increasing by $16.7 million from the third-quarter total.
Katahdin Trust, founded in 1918, has 16 banking offices serving customers in Aroostook, Penobscot and Cumberland counties.
It is ranked No. 16 among the largest Maine-based banks in the recently published 2024 Mainebiz Book of Lists, based on assets as of June 30, 2023.
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