Community Bank earnings fall

November 1, 2006

NH Business Review Staff,

Wolfeboro-based Community Bank and Trust Company’s earnings shrank in the third quarter, thanks to a sharp rise in the cost of money, according to the bank’s most recent earnings statement.

As a result, the bank earned $1.794 million in the third quarter, or 50 cents a diluted share — a $339,000 decrease from the same quarter in 2005, when the bank pulled in 61 cents per diluted share. Similarly in the first three quarters, earnings of 2006 were $5.3 million ($1.49 per share), compared to $6 million, or $1.73 per share, at the same point last year.

The bank’s loan portfolio increased slightly , to $407 million, while deposits decreased slightly to $344 million. Assets were, unchanged at $435 million.

The bank declared a cash dividend of 36 cents to be paid Nov. 15 to shareholders of record on Oct. 20. – BOB SANDERS/NEW HAMPSHIRE BUSINESS REVIEW

Categories: News

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