CBT reports earnings hike

Community Bank and Trust increased its earnings and assets last quarter, but new loans and deposit have gone down.

The Wolfeboro-based bank’s net earnings were $2.1 million for the third quarter of 2005, or 58 cents per diluted share, slightly more than a 10 percent increase from the same quarter in the previous year.

Assets grew to $435 million, compared to $433 million last year, and the bank will be paying a 35-cent dividend on Nov. 1.

But that growth was primarily on the bank’s existing portfolio. Its loan portfolio actually shrunk slightly from last year, down $2 million, to $407 million, and deposit gathering was $356 million, a decrease of $26 million. – NHBR STAFF