Houlton Region

Katahdin Bankshares Corp. reports fourth quarter results

HOULTON, Maine — Katahdin Bankshares Corp., parent company of Katahdin Trust Company, has announced fourth quarter earnings of $1.91 million, or $0.58 per common share.

 For the year ended Dec. 31, 2019, net income available to common shareholders totaled $7,685,000, an increase of $1,363,000 or 21.6 percent over the prior year. Total Assets rose to a record level of $850,909,000, a 6.0% increase from 2018. 

 “We are proud to report record results across many areas of our Company,” said Jon J. Prescott, president and chief executive officer of Katahdin Trust. “As we enter into a new year, one of our top priorities is to continue building customer deposit relationships while providing a personal level of community banking.”

 The company paid a quarterly dividend of $0.1125 per share in the fourth quarter 2019, representing a 4.65 percent increase over last year’s fourth quarter dividend. Katahdin Trust Company is a community bank founded in 1918 serving northern Maine and the greater Bangor and Portland regions.

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