Hampshire First, NHTB report good 3Qs
Hampshire First Bank, based in Manchester, and New Hampshire Thrift Bancshares Inc., holding company of Newport-based Lake Sunapee Bank, each had good quarterly earnings news to report last week.
Hampshire First reported net income of $584,000, or 21 cents a share, for the third quarter ending Sept. 30, compared to $363,000 for the same quarter in the previous year. That brought net income for the year to nearly $1.4 million, or 50 cents a share -- more than $500,000 ahead of last year.
Hampshire First now has $273 million in total assets, 24 percent more than the previous year. Net loans were at $220 million and deposits total $225 million
New Hampshire Thrift Bancshares' net income of $2 million (31 cents per common share) was slightly lower than the $2.1 million earned the previous year, but year to date, the bank's earnings are more than $6 million (96 cents per diluted share) up over the $5.8 million earned at this point in 2010.
The bank's assets increased some $46 million to slightly $1 billion. Loans rose 4.3 percent, to $705 million, and deposits went up 1.5 percent, to $790 million. -- BOB SANDERS/NEW HAMPSHIRE BUSINESS REVIEW