Community Bank and Trust pays dividend



Published:

Community Bank and Trust shareholders will be collecting some pretty hefty dividends. The Wolfeboro bank (traded under the symbol CBNH.OB) announced yesterday that it will be paying a quarterly dividend of 35 cents a share, bringing the total for this fiscal year (which ends Nov. 1) to $1.80 a share. The stock’s Oct. 4 closing price was $30.03. Community Bank and Trust used to be known as one of the state’s smaller banks, but has since become - with assets of more than $430 million - the largest locally-based commercial bank (and the fourth-largest local bank overall) in the state. Bank President Peter Alden credits the bank growth - it has expanded to eight locations - to still thinking small. "We’ve kept a very simple product," he told NHBR Daily. "People like to deal across the desk with someone and that’s what we do." The bank has not released its third-quarter results yet. At the end of July, it announced that it netted $3.909 million in the first half, about 2 percent more than it earned for the first six months of the previous fiscal year. - BOB SANDERS

 

NHBR Poll