NHTB assets top $1b

July 18, 2011

NH Business Review Staff,

The holding company of Lake Sunapee Bank now has more than a billion dollars in the bank, so to speak.Newport-based New Hampshire Thrift Bancshares Inc.’s total assets increased 3.6 percent to $1 billion in the quarter ending June 20, the company reported. That’s a $36 million increase over what it had at the beginning of the year.The bank had other good news to report as well. It posted net earnings of $2 million in its second quarter — 32 cents a share — bringing earnings to $4 million year to date, or about 65 cents a share.That’s about 8 percent more than the first half of 2010, despite a $830,000 decrease in interest and dividend income.The company lowered its tax rate enough though tax-exempt holdings to make up for the slight drop in interest and dividend income. — BOB SANDERS/NEW HAMPSHIRE BUSINESS REVIEW

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