WOLFEBORO, N.H., April 20 /PRNewswire-FirstCall/ -- Community Bank and Trust Company announced today that net income for the three months ending March 31, 2007 totaled $1.667 million or $.46 per diluted share, a decrease of 2% from the $1.706 million or $.47 per diluted share the Bank earned during the first quarter of 2006.
Total assets for the Bank were $426 million at March 31, 2007. The Bank's gross loan portfolio was $400 million, a slight increase from the year ago total of $398 million, while the Bank's deposits ended the first quarter at $344 million, an increase of 4% from the first quarter 2006 total of $332 million.
At their regular meeting on March 27, 2007 the Directors announced a regular quarterly dividend of $.36 per share, payable May 15, 2007 to shareholders of record on April 27, 2007.
FINANCIAL HIGHLIGHTS
Three Months Ended March 31
2007 2006 Percent
Unaudited Unaudited Change
Interest & Dividend Income $7,841,000 $7,211,000 9%
Interest Expense 2,780,000 2,072,000 .34%
Net Interest & Dividend Income 5,061,000 5,139,000 -2%
Net Income 1,667,000 1,706,000 -2%
Loans (gross) 400,066,000 397,875,000 1%
Assets 426,347,000 429,178,000 -1%
Deposits 344,430,000 332,089,000 4%
Stockholders' Equity 44,679,000 43,917,000 2%
Earnings per Share, Basic $0.46 $0.48 -4%
Earnings per Share, Assuming Dilution $0.46 $0.47 -2%
Book Value per Share $12.33 $12.27 0%
Average Shares Outstanding, Basic 3,619,000 3,561,000
Average Shares Outstanding, Assuming
Dilution 3,654,000 3,644,000
The information shown above reflects unaudited financial results which
are subject to possible adjustments.
Community Bank & Trust Company is a state-chartered, full-service commercial bank headquartered in Wolfeboro, with offices in Derry, Dover, Exeter, Hampstead, Hampton, Melvin Village, Nashua, and Plaistow, New Hampshire.
