Katahdin Bankshr Stock Price, News & Analysis

Katahdin Bankshares Corp. (OTCQX: KTHN) reported its first-quarter earnings for 2023, posting a net income of $2.5 million, which translates to $0.77 per common share, marking a significant year-over-year increase of $744,000 or 42%. Total assets rose to $982.1 million, reflecting a $19.1 million increase compared to the same period last year. Deposit balances remained stable, totaling $855.9 million, with a slight decrease of $1.7 million from the previous quarter but an increase of $5.99 million year-over-year.

CEO Jon J. Prescott emphasized the bank's strong capital position and commitment to serving its customers and communities.

Katahdin Bankshares Corp. (OTCQX: KTHN) has released its annual report for the fiscal year ending December 31, 2022. The report highlights the company's position as a community bank based in Houlton, Maine, with assets totaling $983.5 million and 16 locations across northern Maine and the Bangor and Portland regions. Investors can access the full report online. Established in 1918, Katahdin Trust Company serves the local community, demonstrating a long-standing commitment to regional banking. For more details, visit KatahdinTrust.com.

Katahdin Bankshares Corp. (OTCQX: KTHN), the parent company of Katahdin Trust Company, has declared a cash dividend of $0.152 per share for Q1 2023, reflecting a 10.1% increase compared to last year. The dividend is payable on March 24, 2023, to shareholders of record as of March 17, 2023. Katahdin Trust, founded in 1918, operates with $983.5 million in assets and serves northern Maine, including Bangor and Portland.

Katahdin Bankshares Corp. (OTCQX: KTHN), based in Houlton, Maine, reported its fourth quarter earnings for 2022, showcasing a net income of $3.2 million, or $0.98 per common share. For the entire year, the bank posted a net income of $9.7 million, reflecting a 2.6% increase from 2021. The company's total assets rose to $983.5 million, with a yearly growth of $43.0 million and a quarterly increase of $16.7 million. Enhanced net interest margins and strong asset quality were cited as primary contributors to this performance. Additionally, two new board members were appointed.

Katahdin Bankshares Corp. (OTCQX: KTHN) announced a Stock Buyback Program allowing for the repurchase of up to $2,000,000 of its common shares through December 31, 2023. The shares may be repurchased by the company or through its Employee Stock Ownership Plan (ESOP), depending on market conditions. The program can be altered or terminated by the Board of Directors without prior notice. Katahdin Trust Company, founded in 1918, operates with assets exceeding $966 million across multiple locations in Maine.