HOULTON, Maine — Katahdin Bankshares Corp. (OTCQX: KTHN), parent company of Katahdin Trust Company, recently announced fourth-quarter earnings of $1.89 million, or $0.50 per common share.
For the year ended Dec. 31, 2018, net income before preferred stock dividends totaled $7,197,000 or $1.89 per common share. This represented record earnings for Katahdin Bankshares Corp., and exceeded 2017 earnings by $2,844,000 or 65.3 percent.
Total assets reached $803.1 million, representing modest growth of $8.5 million over year end 2017.
“2018 was a great year for Katahdin Trust,” said Jon J. Prescott, president and CEO. “In addition to record earnings, the Bank celebrated its 100th anniversary and was named as one of the 2018 Best Places to Work in Maine. We’re also pleased to have maintained our number one deposit market share in Aroostook County.”
Prescott added, “As we move forward into 2019, we continue to work diligently to identify growth opportunities in central and southern Maine where we can share our unique brand of community banking at its best.”
The Company paid a quarterly dividend of $0.1075 per share in the fourth quarter 2018, representing a 7.5 percent increase over 2017.
