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Cambridge Bancorp (NASDAQ: CATC) reported a net income of $13.3 million for Q3 2021, marking a 4.5% decline from Q2 2021. Diluted EPS decreased to $1.89. For the nine months ended September 30, net income surged 115.2% year-over-year to $40.8 million, with diluted EPS rising to $5.80. The company closed two branches and incurred $787,000 in associated expenses. Key highlights include a 2.2% loan increase to $3.24 billion and strong asset quality. The total asset climbed 13.5% to $4.48 billion. The net interest margin fell to 3.10% for Q3 2021.
Cambridge Bancorp (NASDAQ: CATC) will report its third-quarter 2021 results on October 19, 2021, before market open. A conference call is scheduled for the same day at 11:00 am EST to discuss the results. Participants can pre-register for the call and access a live webcast. Cambridge Bancorp, based in Cambridge, Massachusetts, has approximately $4.30 billion in assets and leads in private banking and wealth management with $4.47 billion in client assets under management as of June 30, 2021.
Cambridge Trust has pledged $110 million to enhance affordable housing in Greater Boston, partnering with the Massachusetts Housing Partnership (MHP). This initiative focuses on financing multifamily rental housing for low- and moderate-income families and nonprofit developers. The funds will be provided for up to 20 years. This commitment is notable, as it is one of the largest of its kind in the U.S., especially amidst a growing need for affordable housing exacerbated by COVID-19. MHP, established in 1985, has financed over $1.5 billion for affordable housing.
Cambridge Bancorp (NASDAQ: CATC), the parent company of Cambridge Trust Company, announced that CEO Denis Sheahan and CFO Michael F. Carotenuto will attend the virtual Raymond James U.S. Bank Conference on September 8, 2021. The bank, based in Cambridge, Massachusetts, has approximately $4.3 billion in assets and $4.5 billion in client assets under management as of June 30, 2021. With 19 locations in Massachusetts and New Hampshire, Cambridge Trust Company is recognized for its private banking and wealth management services.
Cambridge Bancorp (NASDAQ: CATC) announced that CEO Denis Sheahan and CFO Michael F. Carotenuto will participate in the Keefe, Bruyette & Woods 2021 Virtual Community Bank Investor Conference on August 4, 2021. The company, headquartered in Cambridge, Massachusetts, has significant assets, with approximately $4.3 billion as of June 30, 2021. It is recognized as a leader in private banking and wealth management, managing $4.5 billion in client assets.
Cambridge Bancorp (CATC) reported unaudited net income of $13.9 million for Q2 2021, a 3.3% increase from Q1 2021. The diluted EPS rose to $1.98, marking a 3.1% increase. For the first half of 2021, net income surged 397.5% to $27.4 million, with diluted EPS at $3.91. Total assets climbed 9.0% to $4.30 billion. Strong loan growth was noted at 5.3%, with total loans reaching $3.17 billion. The company maintained a 1.32% ROA and a tangible common equity ratio of 8.59%.
Cambridge Bancorp (NASDAQ: CATC) will announce its second quarter 2021 results before the market opens on July 20, 2021. A conference call and webcast to discuss the outcomes will also be held on the same day at 10:00 am EDT. Participants are encouraged to pre-register for the conference call to receive immediate access and bypass the live operator. The call will also be available for listening through a webcast, which will be archived for three months.
Cambridge Bancorp (NASDAQ: CATC) announced that CEO Denis Sheahan and CFO Michael F. Carotenuto will attend D.A. Davidson's 23rd Annual Financial Institutions Conference on May 5, 2021. The conference will take place virtually. Cambridge Bancorp, based in Cambridge, Massachusetts, is a 130-year-old commercial bank with approximately $4.25 billion in assets as of March 31, 2021, and over $4.27 billion in client assets under management. The bank operates 21 locations across Massachusetts and New Hampshire.
Cambridge Bancorp (CATC) reported a net income of $13.5 million for Q1 2021, a 3.7% increase from Q4 2020. Diluted EPS rose 3.4% to $1.92. The bank saw solid core deposit growth of $352.9 million (11.2%) and total assets increased by 7.7% to $4.25 billion. Non-performing loans remained low at 0.23%. However, net interest income fell 7.8% to $31.4 million, largely due to reduced loan accretion. The board declared a quarterly dividend of $0.61, an 11% increase from the previous quarter.
Cambridge Bancorp (NASDAQ: CATC) will report its first quarter 2021 earnings results on April 21, 2021, before the market opens. As of December 31, 2020, the company has approximately $3.9 billion in assets and $4.2 billion in client assets under management. Established over 130 years ago, Cambridge Trust Company operates 21 locations across Massachusetts and New Hampshire, positioning itself as a leader in private banking and wealth management.
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