Investment Business Weekly
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SBT Bancorp, Inc.
SBT Bancorp, Inc. Reports Second Quarter 2011 Results
August 21st, 2011
SBT Bancorp, Inc., (OTCBB: SBTB) holding company for Simsbury Bank & Trust Company, announced net income of $198,000 or $0.15 per diluted share for the second quarter of 2011, compared to $273,000 or $0.24 per diluted share for the second quarter of 2010. Total assets on June 30, 2011 were $335 million, an increase of $60 million or 22% over June 30, 2010.
For the six months ended June 30, 2011, net income amounted to $285,000, or $0.18 per diluted share. Net income for the first quarter of 2011 was impacted by a one-time charge related to the Bank's formation of a Passive Investment Company (PIC). Excluding this one-time charge, net of a favorable income tax adjustment,...
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Source: Investment Business Weekly (2011-08-21)