Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

May 7, 2014

Thomaston Savings’ first-half profits up 69 percent

Thomaston Savings Bank, which has branches in Hartford and New Haven counties, said its net income in the first half of its fiscal year is up by 69 percent.

The bank said Tuesday that it booked $2.2 million in net income for the six months ended March 31, up from $1.3 million over the prior-year period.

Thomaston said the increase was due to higher interest and fee income, strong gains on investment securities, and a reduction in operating expenses.

Total loans increased 4.4 percent, to $570 million, driven by commercial lending. Meanwhile, deposits grew by 3.2 percent, to $648 million, the bank said.

Sign up for Enews

Most Recent

Most Recent

Related Content

Thumbnail Thomaston Savings Bank’s second Farmington branch gets state approval
Thumbnail Thomaston Savings breaks ground on Farmington branch
Lewis takes banking career full circle

0 Comments

Order a PDF