PR Newswire
HOULTON, Maine , April 20, 2023 /PRNewswire/ -- Katahdin Bankshares Corp. (OTCQX: KTHN), the parent company of Katahdin Trust Company, a full-service community bank in Maine founded in 1918, has announced 2023 first-quarter earnings of $2.5 million , or $0.77 per common share, exceeding the same timeframe last year by $744,000 , or 42%.
"As depicted in our financial results, we remain well-capitalized, diversified, and positioned to continue to serve our customers and communities for generations to come," stated Jon J. Prescott , Katahdin Trust Company President and Chief Executive Officer.
Total assets reached $982.1 , an increase of $19.1 million when compared to the first quarter of 2022.
Deposit balances remained steady over the last quarter and year, ending at $855.9 million . Although total deposits were down by only $1.7 million from December 31, 2022 , deposits exceeded March 31, 2022 , by $5.99 million .
For more information and to view a copy of the Bank's most recent 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 16 locations and more than $980 million in assets. 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.