Katahdin Bankshares Corp. Reports First Quarter 2024 Results

HOULTON, Maine, April 24, 2024 /PRNewswire/ -- Katahdin Bankshares Corp. (OTCQX: KTHN), the parent company of Katahdin Trust Company, a full-service community bank in Maine founded in 1918, has announced 2024 first-quarter earnings of $2.04 million, or $0.64 per common share.

Total assets for Katahdin Trust remained above $1 billion and strong asset quality continued. Although net income was down 18% from the same period in 2023, the Bank remains cautiously optimistic about the economic landscape and is well-positioned to navigate any challenges that may arise.

"With a strong capital position, a talented team, and a clear strategic vision, we are confident in our ability to continue delivering value to our shareholders and stakeholders," stated Jon J. Prescott, Katahdin Trust President and Chief Executive Officer.

For more information and to view a copy of the Bank's most recent quarterly financial report, visit KatahdinTrust.com/Shareholder-Relations.

About Katahdin Bankshares Corp.
Katahdin Bankshares Corp. is the bank holding company of Katahdin Trust Company. Founded in 1918, Katahdin Trust is a community bank based in Houlton, Maine with 16 locations and more than $1 billion in assets. Katahdin Bankshares Corp. common stock is quoted on the OTC Markets (OTCQX) under the symbol KTHN. Learn more about the Company and its subsidiary bank at www.katahdintrust.com and follow Katahdin Trust on social media.

SOURCE Katahdin Bankshares Corp.