Simsbury Bank's parent more than quadrupled its first-quarter profit from stepped up lending and fee income.
SBT Bancorp. Inc. netted $481,000, or 47 cents a fully diluted share, in three months ended March 31, up from $87,000 or 3 cents a share, netted the same period last year.
SBT noted its first-quarter 2011 profit would have been higher but for a $172,000 charge to earnings stemming from its formation of a passive investment company.
Total assets on March 31 were $362 million, up or 11 percent from a year ago.