Le Lézard
Classified in: Business
Subject: ERN

Katahdin Bankshares Reports Fourth Quarter 2022 Results

HOULTON, Maine, Jan. 27, 2023 /PRNewswire/ -- Katahdin Bankshares Corp. (OTCQX: KTHN), the parent company of Katahdin Trust Company, a full-service community bank founded in 1918 serving northern Maine and the greater Bangor and Portland regions, today announced its 2022 fourth quarter earnings of $3.2 million, or $0.98 per common share.

Net income for the year totaled $9.7 million, an increase of 2.6% when compared to the full year of 2021. Total assets reached $983.5 million, a growth over last year of $43.0 million and over the last quarter of $16.7 million.

"I am very pleased with our financial results in the fourth quarter and for all of 2022," said Jon J. Prescott, President and CEO of Katahdin Trust. "An improving net interest margin and continued excellent asset quality were the primary drivers of our continued success."

In making the announcement, Prescott added that the Company has appointed two new board members, Benjamin Carlisle of Bangor and Julie Libby of Presque Isle.

For more detailed information and to view a copy of the Bank's quarterly financial report, visit: KatahdinTrust.com/Shareholder-Relations.

About Katahdin Bankshares Corp. 
Katahdin Bankshares Corp. is the bank holding company of Katahdin Trust Company. Founded in 1918, Katahdin Trust is a community bank based in Houlton, Maine with more than $983 million in assets and 16 banking offices that serve Aroostook, Penobscot, and Cumberland counties. The Bank has nearly 180 employees and, in 2022 was named one of the Best Places to Work in Maine, Best Place for Working Parents®, and American Banker magazine's Top 200 Community Banks. Katahdin Bankshares Corp. common stock is quoted on the OTC Markets (OTCQX) under the symbol KTHN. Learn more about the Company and its subsidiary bank at www.katahdintrust.com and follow Katahdin Trust on Facebook, Twitter, LinkedIn, and Instagram.

SOURCE Katahdin Bankshares Corp.

These press releases may also interest you

at 17:12
Across the country, families are struggling with the rising cost of living. The Government of Canada is providing targeted support to those who need it most, and we are going to keep delivering much-needed relief to the middle class and people...

at 14:32
Jobma has announced a significant update that will leverage the power of Artificial Intelligence to provide...

at 13:00
The Canada Revenue Agency (CRA) has resumed efforts to recover taxpayers' debt. One of the tools the CRA uses to recover debt is called offsetting. Offsetting proactively applies tax refunds and benefit payments (such as the GST/HST credit) to tax...

at 12:00
Medtronic plc and DaVita Inc. today announced the launch of Mozarc Medical?an independent new company committed to reshaping kidney health and driving patient-centered technology solutions. "Mozarc Medical's focus will be on meaningful and...

at 10:15
WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of PLDT Inc. between January 1, 2019 and December 19, 2022, both dates inclusive (the "Class Period"), of the important April 7, 2023 lead plaintiff...

at 09:21
Chadwick BaRoss (CBR), one of New England's oldest and largest suppliers of heavy construction equipment, announced today that it has concluded an asset acquisition from Woodco Machinery. This will allow CBR to expand its existing partnership with...

News published on 27 january 2023 at 14:36 and distributed by: