Welcome to our dedicated page for Cambridge Bancorp news (Ticker: CATC), a resource for investors and traders seeking the latest updates and insights on Cambridge Bancorp stock.
Cambridge Bancorp (NASDAQ: CATC), the parent company of Cambridge Trust Company, provides investors and financial professionals with essential updates through this centralized news hub. Our curated collection features official press releases, regulatory filings, and market analyses related to this historic Massachusetts banking institution.
Access timely updates on key developments including quarterly earnings reports, strategic initiatives in commercial banking, and wealth management service expansions. The repository maintains complete records of SEC filings, leadership announcements, and community partnership updates that demonstrate CATC's regional impact.
This resource serves analysts tracking New England's financial sector and investors evaluating community-focused banking institutions. All content undergoes verification to ensure accuracy and compliance with financial disclosure standards. Bookmark this page for streamlined access to CATC's evolving story within the competitive banking landscape.
Cambridge Bancorp (NASDAQ: CATC) reported a net income of $12.4 million for Q1 2023, reflecting a 9.7% increase from Q4 2022. Diluted EPS rose to $1.58, up 9.7%. However, operating net income fell 15.4% to $12.7 million compared to the previous quarter. The bank's non-performing loans stand at 0.18% of total loans, maintaining strong asset quality. Total assets decreased slightly by 0.6% to $5.53 billion. Total deposits dropped by 3.3% to $4.66 billion, with significant outflows attributed to clients seeking higher yields. The bank declared a dividend of $0.67 per share, payable May 25, 2023. The effective tax rate was 25.1%.
Cambridge Bancorp (NASDAQ: CATC) will announce its first quarter 2023 financial results on April 25, 2023, before market opening. A conference call will follow at 11:00 am EST on the same day, which will be available via webcast. The company, based in Cambridge, Massachusetts, operates Cambridge Trust Company, with assets totaling approximately $5.6 billion as of December 31, 2022. It also boasts $4.1 billion in managed client assets in wealth management, reflecting its strong position in the private banking sector of New England. Interested participants can pre-register for the call or listen live online.
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