Katahdin Bankshares Corp. Reports Third-Quarter 2023 Financial Results

Rhea-AI Summary

Katahdin Bankshares Corp. announces solid third-quarter earnings of $2.58 million

Positive

• Good loan growth
• Steady margin
• Strong asset quality

Negative

• None.

HOULTON, Maine, Oct. 19, 2023 /PRNewswire/ -- Katahdin Bankshares Corp. (OTCQX: KTHN), the parent company of Katahdin Trust Company, a full-service community bank in Maine, today announced 2023 third-quarter earnings of $2.58 million, or $0.81 per common share.

"The third quarter proved to be a solid one," said Jon Prescott, Katahdin Trust's President and CEO. "We had good loan growth, a steady margin, and strong asset quality."

Despite ongoing challenges within the operating environment, Katahdin Trust is pleased with the commendable financial results they achieved.

"Looking ahead, we remain optimistic and committed to navigating future opportunities and challenges with the same community bank dedication and resilience as the last 105 years," added Prescott.

More information and the detailed quarterly financial report are available on Katahdin Trust Company's website at 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 more than $1 billion in assets and 16 banking offices that serve Aroostook, Penobscot, and Cumberland counties. 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, X (formerly known as Twitter), LinkedIn, and Instagram.

View original content:https://www.prnewswire.com/news-releases/katahdin-bankshares-corp-reports-third-quarter-2023-financial-results-301962601.html

SOURCE Katahdin Bankshares Corp.

FAQ

What are Katahdin Bankshares Corp.'s third-quarter earnings?

Katahdin Bankshares Corp. reported third-quarter earnings of $2.58 million, or $0.81 per common share.

What were the highlights of Katahdin Trust's financial results?

Katahdin Trust had good loan growth, a steady margin, and strong asset quality.

Where can I find more information and the detailed quarterly financial report?

More information and the detailed quarterly financial report are available on Katahdin Trust Company's website at katahdintrust.com/Shareholder-Relations.