Katahdin Trust Co.

The financial institution, owned by Houlton-based Katahdin Banskshares Corp., said it has more than $1.09 billion in assets.

"We are pleased with these results and look forward to finishing the year strong," said Jon J. Prescott, president and CEO of Katahdin Trust, a Houlton-based bank with 16 locations.

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A roundup of new hires, promotions and achievements at businesses, nonprofits, health care institutions, banks and professional services firms in Maine.

Strong net income was driven by interest earnings. Non-interest expense rose year-over-year, primarily related to salary and benefit costs.

Lower net interest income and increased operating expenses were the main reasons a year-to-date drop in net income.

Katahdin Bankshares Corp. has hired Tom Dwyer as assistant vice president and commercial services officer.

Katahdin Bankshares Corp., the Houlton-based parent company of Katahdin Trust Co., has hired Michelle Ritcheson as senior vice president and senior credit officer.

Katahdin Bankshares Corp., the Houlton-headquartered parent of Katahdin Trust Co., on Monday reported second-quarter earnings of $2 million or 63 cents per share.

Katahdin Bankshares Corp., the Houlton-based parent company of Katahdin Trust Co., is taking a proactive approach employee retention, offering up to $6,000 in bonuses for employees that stay put.