CBT reports 1Q earnings

Community Bank and Trust Company’s declined slightly in the first quarter of 2007.

The Wolfeboro-based bank reported that earnings totaled $1.667 million, or 46 cents per diluted share, a penny less than the same quarter last year.

The decline came despite nearly a 10 percent increase in interest and dividend income, because the cost of money increased. Both deposits ($344 million) and the bank’s loan portfolio ($400 million) were up, but assets declined slightly to $436 million.

The bank said it will be issuing a dividend of 36 cents of share on May 15 to shareholders on record on April 27 – BOB SANDERS