Katahdin Bankshares Corp. Reports Second Quarter 2023 Financial Results

Rhea-AI Summary

Katahdin Bankshares Corp. (OTCQX: KTHN) announces strong 2023 second-quarter earnings of $2.48 million, or $0.77 per common share, driven by solid loan growth. President and CEO Jon Prescott highlights historic achievement of surpassing $1 billion in total assets.

Positive

• Solid loan growth contributed to strong financial performance
• Historic milestone of surpassing $1 billion in total assets reflects the bank's growth and stability

Negative

• None.

HOULTON, Maine, July 20, 2023 /PRNewswire/ -- Katahdin Bankshares Corp. (OTCQX: KTHN), the parent company of Katahdin Trust Company, a full-service community bank in Maine, has announced 2023 second-quarter earnings of $2.48 million, or $0.77 per common share.

"I am happy to report that our financial performance remained strong for the second quarter of 2023," stated Jon Prescott, President and CEO of Katahdin Trust. "Due to solid loan growth during the quarter, we made history and eclipsed the $1 billion mark in total assets."

For more detailed 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 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, Twitter, LinkedIn, and Instagram.

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SOURCE Katahdin Bankshares Corp.

FAQ

What are Katahdin Bankshares Corp.'s 2023 second-quarter earnings?

Katahdin Bankshares Corp. reported 2023 second-quarter earnings of $2.48 million, or $0.77 per common share.

What contributed to the strong financial performance of Katahdin Bankshares Corp.?

Solid loan growth during the quarter was a key factor in the strong financial performance.

What milestone did Katahdin Bankshares Corp. achieve in the second quarter of 2023?

Katahdin Bankshares Corp. surpassed the $1 billion mark in total assets, marking a historic achievement for the company.