April 30, 2012 | last updated June 1, 2012 2:13 pm

Simsbury Bank parent's 1Q net quadruples

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.

Comments

Type your comment here:

Today's Poll How will you travel this holiday season?<>
ADVERTISEMENTS
Most Popular on Facebook
Copyright 2014 New England Business Media