Katahdin Bankshares Reviews Fourth Quarter 2022 Outcomes

HOULTON, Maine, Jan. 27, 2023 /PRNewswire/ — Katahdin Bankshares Corp. (OTCQX: KTHN), the guardian firm of Katahdin Belief Firm, a full-service group financial institution based in 1918 serving northern Maine and the larger Bangor and Portland areas, immediately introduced its 2022 fourth quarter earnings of $3.2 million, or $0.98 per widespread share.

Web earnings for the 12 months totaled $9.7 million, a rise of two.6% when in comparison with the complete 12 months of 2021. Complete property reached $983.5 million, a progress over final 12 months of $43.0 million and over the past quarter of $16.7 million.

“I’m very happy with our monetary leads to the fourth quarter and for all of 2022,” stated Jon J. Prescott, President and CEO of Katahdin Belief. “An bettering web curiosity margin and continued glorious asset high quality had been the first drivers of our continued success.”

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

For extra detailed info and to view a replica of the Financial institution’s quarterly monetary report, go to: KatahdinTrust.com/Shareholder-Relations.

About Katahdin Bankshares Corp. 
Katahdin Bankshares Corp. is the financial institution holding firm of Katahdin Belief Firm. Based in 1918, Katahdin Belief is a group financial institution based mostly in Houlton, Maine with greater than $983 million in property and 16 banking places of work that serve Aroostook, Penobscot, and Cumberland counties. The Financial institution has almost 180 staff and, in 2022 was named one of many Greatest Locations to Work in Maine, Greatest Place for Working Mother and father®, and American Banker journal’s Prime 200 Group Banks. Katahdin Bankshares Corp. widespread inventory is quoted on the OTC Markets (OTCQX) below the image KTHN. Study extra concerning the Firm and its subsidiary financial institution at www.katahdintrust.com and observe Katahdin Belief on Fb, Twitter, LinkedIn, and Instagram.

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SOURCE Katahdin Bankshares Corp.