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

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