Katahdin Bankshares Corp. Reports Third Quarter Results

HOULTON, Maine, Oct. 23, 2019 /PRNewswire/ -- Katahdin Bankshares Corp. KTHN, parent company of Katahdin Trust Company, a community bank founded in 1918 serving northern Maine and the greater Bangor and Portland regions, has announced third-quarter earnings of $2.25 million, or $0.68 per common share. Year to date earnings of $5,777,000 increased by 24.1% or $1,122,000 over the first nine months of 2018.

Total assets reached $845.2 million as of quarter-end. Loans and customer deposits grew $44.4 million and $44.5 million, respectively, over last year at this time.

"We continue to experience excellent results," said Jon J. Prescott, President and Chief Executive Officer of Katahdin Trust. "As we look forward to the rest of 2019 and into 2020, building relationships through deposit product offerings remain an essential growth strategy for the Bank."

For more information and to view a copy of the most recent quarterly financial report, visit www.KatahdinTrust.com/Shareholder-Relations.

About Katahdin Bankshares Corp.

Katahdin Bankshares Corp. is the bank holding company of Katahdin Trust Company, a community bank founded in 1918 and based in Houlton, Maine. Katahdin Trust, named one of the 2018 and 2019 Best Places to Work in Maine, has 180 employees and sixteen banking offices that serve Aroostook, Penobscot, and Cumberland counties. Katahdin Bankshares Corp. common stock is quoted on the OTCQX market under the symbol KTHN. To learn more about the Company and its subsidiary bank, visit KatahdinTrust.com or follow Katahdin Trust on Facebook, Twitter, LinkedIn, and Instagram.

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SOURCE Katahdin Bankshares Corp.