HOULTON, Maine – Katahdin Bankshares Corp., parent company of Katahdin Trust Company, a community bank founded in 1918 serving northern Maine and the greater Bangor and Portland regions, has announced fourth-quarter earnings of $1.94 million, or $0.52 per common share.
For the year ended Dec. 31, 2021, net income available to common shareholders totaled $9,473,000, a slight reduction of $46,000 over the prior year. Fourth-quarter results were below the previous year’s fourth quarter, due in part to lower SBA Paycheck Protection Program (PPP) income and other non-recurring items last year. Total assets ended at $940,499,000, a relatively flat increase of 0.4 percent from 2020.
“Our overall financial results for 2021 were solid,” said Jon J. Prescott, president and CEO of Katahdin Trust. “I’m pleased that the Bank was able to reward employees with an additional one-time salary stipend in the fourth quarter. This was a great way to recognize what our staff has gone through both in and out of the workplace during this challenging time.”
For more information and to view a copy of the most recent quarterly financial report, visit KatahdinTrust.com/Shareholder-Relations.
