The Connecticut Bank and Trust Co. continues to improve its profitability, reporting a net loss of $295,000 for the second quarter of 2008 compared with a loss of $592,000 for the same period in 2007.

Total assets were $200.1 million, an increase of $21.4 million from $178.7 million reported at December 31, 2007.

For the six months ended June 30, 2008, CBT reported a $691,000 loss, compared to a $1.2 million loss for the six months ended June 30, 2007.

"I am pleased to say that CBT is making strong, steady progress toward achieving profitability in these very difficult economic times," Chairman and CEO David A. Lentini said in a statement. "This is the 11th consecutive quarterly improvement in year over year operating results."

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