Community Bank’s income falls

July 28, 2006

NH Business Review Staff,

Wolfeboro-based Community Bank & Trust reported decreased earnings for the second quarter of 2006.

For the quarter, which ended June 30, net income was $1.843 million, or 50 cents per diluted share, down 5 percent from $1.951 million, or 53 cents per diluted share, for the second quarter of 2005. Deposits for the quarter also fell about 8 percent to $336 million, down from $366 million in the same quarter in 2005.

Net income for the first six months of 2006 was $3.55 million, or 97 cents per share, down about 9 percent from $3.91, or $1.07 per share, from the same quarter a year ago. Loans and assets remained flat for the first six months of the year.

Despite the quarter’s unimpressive results, a cash dividend of 36 cents will be paid Aug. 15 to shareholders of record July 21, the bank said. — CINDY KIBBE

Categories: News

More news from NHBR:

Littleton company aims for a big bite of the outdoor business

Adventure Ready Brands makes health and safety products at North Country industrial park

Take 5: WalletHub study, employment rate and housing preference

NH Business Review's biweekly snapshot of business and industry statistics

Wooden Judicial Hammer On Table Close Up. Law And Justice. The Courtroom

AG says federal judge exceeded her authority in inspection ruling

A federal judge exceeded her authority by ordering the state to continue its mandatory vehicle inspection program after it was repealed, NH Attorney General John Formella argued in a legal filing Thursday, March 19, with the 1st U.S. Circuit Court of Appeals.

Former Ocean Spray CEO to serve as UNH commencement speaker

Tom Hayes, ‘87, former CEO of Ocean Spray, will deliver the commencement address at the University of New Hampshire undergraduate ceremonies on May 16. A respected leader in the food industry, with more than three decades of experience guiding major consumer brands, Hayes will offer words of inspiration to the class of ‘26.

Manchester’s Exacom acquired by Motorola Solutions

Exacom, which provides voice and multimedia recording and logging solutions for 911 emergency communications, has been acquired by Motorola Solutions (NYSE: MSI). Terms of the transaction were not disclosed.

Keene State College convenes national leaders to address future of occupational safety and construction workforce

Keene State College’s (KSC) Safety and Construction Sciences programs recently hosted a three-day summit that brought students, faculty, alumni and industry leaders from across the country to address the future of the occupational safety profession and the growing demand for qualified safety professionals.

Federal funding cuts prompts closure of Education Alliance for NH

The board of directors of the Education Alliance for New Hampshire (EANH) has voted unanimously to close the organization’s operations following the loss of significant federal funding that has historically supported its core college access programs, the organization said in a press release.