Katahdin Bankshares Corp. Reports Fourth Quarter 2024 Results
Katahdin Bankshares Corp. (OTCQX: KTHN) reported fourth-quarter 2024 earnings of $1.755 million, or $0.55 per common share. The company's full-year 2024 net income totaled $8.06 million, marking an 18.6% decrease ($1.84 million) from the previous year. The decline was attributed to lower net interest income and increased operating expenses.
Despite the earnings decline, the bank reported several positive developments: total assets grew 4.5% to $1.08 billion, loans increased by $25.6 million, and deposits rose by $33.6 million as of December 31, 2024. The company also highlighted continued loan growth, solid asset quality, core deposit growth, and a stabilizing net interest margin.
Katahdin Bankshares Corp. (OTCQX: KTHN) ha riportato un utile per il quarto trimestre 2024 di 1,755 milioni di dollari, corrispondente a $0,55 per azione ordinaria. Il reddito netto dell'azienda per l'intero anno 2024 è stato di 8,06 milioni di dollari, segnando una diminuzione del 18,6% (1,84 milioni di dollari) rispetto all'anno precedente. La diminuzione è stata attribuita a un netta riduzione del reddito da interessi e a un aumento delle spese operative.
Nonostante la flessione degli utili, la banca ha riportato diversi sviluppi positivi: il totale delle attività è cresciuto del 4,5% raggiungendo 1,08 miliardi di dollari, i prestiti sono aumentati di 25,6 milioni di dollari e i depositi sono saliti di 33,6 milioni di dollari al 31 dicembre 2024. L'azienda ha anche messo in evidenza la continua crescita dei prestiti, la solidità della qualità delle attività, la crescita dei depositi core e un margine di interesse netto stabilizzante.
Katahdin Bankshares Corp. (OTCQX: KTHN) reportó ganancias del cuarto trimestre de 2024 de $1.755 millones, o $0.55 por acción ordinaria. El ingreso neto total de la compañía para el año completo 2024 fue de $8.06 millones, marcando una disminución del 18.6% ($1.84 millones) respecto al año anterior. Esta caída se atribuyó a menores ingresos por intereses y aumento en los gastos operativos.
A pesar de la disminución en ganancias, el banco reportó varios desarrollos positivos: los activos totales crecieron un 4.5% alcanzando $1.08 mil millones, los préstamos aumentaron en $25.6 millones, y los depósitos subieron en $33.6 millones al 31 de diciembre de 2024. La empresa también destacó el crecimiento continuo de los préstamos, la sólida calidad de los activos, el crecimiento de los depósitos básicos y la estabilización del margen de interés neto.
카타히딘 뱅크셰어스 주식회사 (OTCQX: KTHN)는 2024년 4분기 수익으로 175.5만 달러 또는 보통주당 $0.55를 보고했습니다. 회사의 2024년 전체 순이익은 806만 달러로, 전년 대비 18.6% 감소했습니다 ($184만 달러 감소). 이 감소는 낮은 순이자수익과 증가한 운영비용에 기인했습니다.
수익 감소에도 불구하고, 은행은 몇 가지 긍정적인 발전을 보고했습니다: 총 자산이 4.5% 증가하여 10억 8000만 달러에 달했습니다, 대출이 2560만 달러 증가하였으며, 예금이 3360만 달러 증가했습니다(2024년 12월 31일 기준). 회사는 지속적인 대출 증가, 우수한 자산 품질, 핵심 예금 성장, 안정된 순이자 마진을 강조했습니다.
Katahdin Bankshares Corp. (OTCQX: KTHN) a annoncé un bénéfice pour le quatrième trimestre 2024 de 1,755 million de dollars, soit 0,55 $ par action ordinaire. Le résultat net de l'entreprise pour l'ensemble de l'année 2024 s'est élevé à 8,06 millions de dollars, marquant une diminution de 18,6 % (1,84 million de dollars) par rapport à l'année précédente. Cette baisse a été attribuée à des revenus d'intérêts nets plus faibles et à des dépenses d'exploitation accrues.
Malgré la baisse des bénéfices, la banque a signalé plusieurs évolutions positives : les actifs totaux ont augmenté de 4,5 % pour atteindre 1,08 milliard de dollars, les prêts ont augmenté de 25,6 millions de dollars et les dépôts ont augmenté de 33,6 millions de dollars au 31 décembre 2024. L'entreprise a également souligné la poursuite de la croissance des prêts, la qualité solide des actifs, la croissance des dépôts de base et un marge d'intérêt net stabilisante.
Katahdin Bankshares Corp. (OTCQX: KTHN) berichtete im vierten Quartal 2024 einen Gewinn von 1,755 Millionen Dollar bzw. $0,55 pro Stammaktie. Der Nettogewinn des Unternehmens für das gesamte Jahr 2024 betrug 8,06 Millionen Dollar, was einem Rückgang von 18,6% (1,84 Millionen Dollar) im Vergleich zum Vorjahr entspricht. Der Rückgang wurde auf niedrigere Zinserträge und höhere Betriebskosten zurückgeführt.
Trotz des Rückgangs des Gewinns berichtete die Bank von mehreren positiven Entwicklungen: die Gesamtaktiva wuchsen um 4,5% auf 1,08 Milliarden Dollar, die Kredite erhöhten sich um 25,6 Millionen Dollar und die Einlagen stiegen um 33,6 Millionen Dollar am 31. Dezember 2024. Das Unternehmen hob auch das anhaltende Wachstum der Kredite, die solide Vermögensqualität, das Wachstum der Kern-Einlagen und einen stabilisierenden Nettozinsmargen hervor.
- Total assets increased 4.5% to $1.08 billion
- Loan portfolio grew by $25.6 million
- Deposit balances increased by $33.6 million
- Maintained solid asset quality
- Net income decreased 18.6% year-over-year
- Lower net interest income reported
- Increased operating expenses
Year to date, net income for 2024 totaled
"We remain committed to building long-term value for our customers and shareholders," said Jon J. Prescott, Katahdin Trust President and Chief Executive Officer. "Although net income was down from last year, we saw several positive aspects, including continued loan growth, solid asset quality, core deposit growth, and a stabilizing net interest margin."
Total assets increased by
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
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SOURCE Katahdin Bankshares Corp.
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