July 24, 2012

Simsbury Bank parent’s 2Q net up 129%

The parent of Simsbury Bank & Trust more than doubled its second-quarter profit, largely propelled by income from account and loan fees and other services.

For three months ended June 30, SBT Bancorp Inc. netted $453,000, or 49 cents a fully diluted share, up from $198,000, or 15 cents a share, netted the same quarter a year ago.

SBT said non-interest income climbed 65 percent to $948,000.

The bank ended the quarter with $223 million in loans outstanding, up 6 percent from a year earlier.

It ended the quarter with assets totaling $339.8 million vs. $335 million a year earlier.

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