Northway reports strong quarter

Berlin-headquartered Northway Financial Inc. Wednesday a 31 percent increase in net income for the first quarter ended March 31.

The financial holding company reported a net income of $1.08 million, or 72 cents per share, up from $823,000, or 55 cents per share, in the same quarter last year.

Northway also announced a dividend of 20 cents per share, payable May 15, to stockholders of record on May 5.

On April 7 Northway completed its purchase of Providian National Bank branches in Tilton and Belmont from Washington Mutual Bank. — CINDY KIBBE