March 17, 2011
Record earnings at Katahdin Trust
By The Mainebiz News Staff
Katahdin Bankshares Corp., parent company of Katahdin Trust Co., has reported record earnings for 2010.
The Houlton-based financial company saw earnings reach nearly $4.8 million last year, the highest in the company's 93-year history, according to a press release. Earnings rose 28% in 2010 compared with 2009. The company's total assets also hit a milestone of more than $500 million, a nearly 3% increase over 2009.
Katahdin Bankshares began offering full-service banking in Bangor last year and also broke ground on a new branch in Hampden, which is scheduled to open in June.
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