Q2 earnings for Katahdin Bankshares drop 19% from last year
File photo / Courtesy, Katahdin Trust
Katahdin Bankshares Corp. is the Houlton-based parent company of Katahdin Trust Co.
Katahdin Bankshares Corp. (OTCQX: KTHN), the Houlton-headquartered parent of Katahdin Trust Co., on Monday reported second-quarter earnings of $2 million, or 63 cents per share.
Those results are down from $2.48 million, or 77 cents per share, during the second quarter of 2023.
Katahdin Trust's total assets increased by $12.4 million over the first three months of 2024, according to the results.
"Although our net interest margin contracted, strong loan growth and excellent asset quality enabled us to nearly match our first-quarter results," said Jon J. Prescott, Katahdin Trust president and CEO, in a news release.
"Despite a 2.1% decrease from the previous quarter and a 19.3% drop from the same quarter last year, I believe these net income results showcase our ability to maintain solid performance in a challenging market environment."
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 2024 Mainebiz Book of Lists, based on assets of $1 billion as of June 30, 2023.
Most Recent
Most Recent
0 Comments