Katahdin Bankshares Corp. Reports Third Quarter 2024 Results
Katahdin Bankshares Corp. (OTCQX: KTHN), parent company of Katahdin Trust Company, has reported its third-quarter 2024 earnings. The company achieved earnings of $2.27 million, or $0.71 per common share, marking a 13.2% increase over the previous quarter. Despite challenges such as lower year-to-date net interest income and rising costs, the company maintained a stable net interest margin. Year-to-date net income reached $6.31 million, which is 16.7% lower than the previous year, primarily due to a lower net interest margin. Total assets grew by nearly $11 million, reaching $1.05 billion as of September 30, 2024.
Katahdin Bankshares Corp. (OTCQX: KTHN), la società madre di Katahdin Trust Company, ha riportato i suoi guadagni del terzo trimestre 2024. L'azienda ha registrato guadagni di 2,27 milioni di dollari, ovvero 0,71 dollari per azione comune, segnando un aumento del 13,2% rispetto al trimestre precedente. Nonostante le sfide come il calo del reddito netto da interessi anno su anno e l'aumento dei costi, l'azienda ha mantenuto un margine di interesse netto stabile. Il reddito netto da inizio anno ha raggiunto 6,31 milioni di dollari, che è 16,7% inferiore rispetto all'anno precedente, principalmente a causa di un margine di interesse netto più basso. Gli attivi totali sono aumentati di quasi 11 milioni di dollari, raggiungendo 1,05 miliardi di dollari al 30 settembre 2024.
Katahdin Bankshares Corp. (OTCQX: KTHN), la empresa matriz de Katahdin Trust Company, ha informado sobre sus ingresos del tercer trimestre de 2024. La compañía logró ingresos de 2,27 millones de dólares, o 0,71 dólares por acción común, lo que representa un incremento del 13,2% respecto al trimestre anterior. A pesar de los desafíos como la disminución en los ingresos netos por intereses acumulados hasta la fecha y el aumento de costos, la empresa mantuvo un margen de intereses neto estable. Los ingresos netos acumulados hasta la fecha alcanzaron 6,31 millones de dólares, lo que es 16,7% inferior al año anterior, principalmente debido a un margen de interés neto más bajo. Los activos totales crecieron en casi 11 millones de dólares, alcanzando 1,05 mil millones de dólares al 30 de septiembre de 2024.
Katahdin Bankshares Corp. (OTCQX: KTHN)는 Katahdin Trust Company의 모회사로서 2024년 3분기 수익을 보고했습니다. 이 회사는 227만 달러, 즉 주당 0.71달러의 수익을 올리며 이전 분기보다 13.2% 증가했습니다. 연초 대비 순이자 수익 감소와 비용 상승과 같은 도전 과제에도 불구하고 회사는 안정적인 순이자 마진을 유지했습니다. 올해 누적 순이익은 631만 달러에 도달했으며, 이는 지난해에 비해 16.7% 감소한 수치로, 주로 낮은 순이자 마진 때문입니다. 총 자산은 거의 1100만 달러 증가하여 2024년 9월 30일 기준으로 10억 5000만 달러에 달했습니다.
Katahdin Bankshares Corp. (OTCQX: KTHN), la société mère de Katahdin Trust Company, a publié ses résultats du troisième trimestre 2024. L’entreprise a réalisé un bénéfice de 2,27 millions de dollars, soit 0,71 dollar par action ordinaire, marquant une augmentation de 13,2% par rapport au trimestre précédent. Malgré des défis tels qu’une baisse du revenu net d'intérêts et une hausse des coûts, l’entreprise a maintenu une marge d'intérêt nette stable. Le revenu net depuis le début de l'année a atteint 6,31 millions de dollars, ce qui est 16,7% inférieur à l'année précédente, principalement en raison d'une marge d'intérêt nette plus faible. Les actifs totaux ont augmenté de près de 11 millions de dollars, atteignant 1,05 milliard de dollars au 30 septembre 2024.
Katahdin Bankshares Corp. (OTCQX: KTHN), die Muttergesellschaft der Katahdin Trust Company, hat ihre Ergebnisse für das dritte Quartal 2024 veröffentlicht. Das Unternehmen erzielte einen Gewinn von 2,27 Millionen US-Dollar, oder 0,71 US-Dollar pro Stammaktie, was einen Anstieg von 13,2% im Vergleich zum Vorquartal darstellt. Trotz Herausforderungen wie einem geringeren netto Zins-Einkommen bis dato und steigenden Kosten hielt das Unternehmen eine stabile Nettozinsspanne aufrecht. Der Netto-Einkommen seit Jahresbeginn betrug 6,31 Millionen US-Dollar, was 16,7% niedriger ist als im Vorjahr, hauptsächlich bedingt durch eine niedrigere Nettozinsspanne. Die Gesamtvermögen wuchsen um fast 11 Millionen US-Dollar und erreichten zum 30. September 2024 1,05 Milliarden US-Dollar.
- Third-quarter earnings increased by 13.2% over the previous quarter
- Earnings per share reached $0.71
- Net interest margin remained stable during the quarter
- Total assets grew to $1.05 billion, an increase of nearly $11 million
- Year-to-date net income decreased by 16.7% compared to the previous year
- Lower net interest margin led to a decline in year-over-year net interest income
- Rising funding costs and non-interest expenses reported
"I'm pleased to report that our financial performance remained solid and consistent for the third quarter," said Jon J. Prescott, Katahdin Trust President and Chief Executive Officer. "Despite year-to-date lower net interest income and rising funding costs and non-interest expenses, our net interest margin remained relatively stable during the quarter, and when combined with moderate growth and continued strong asset quality, it contributed to improved results compared to the second quarter."
Year to date, net income reached
Total assets increased nearly
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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