Katahdin Bankshares Corp. Reports Fourth Quarter Results

HOULTON, Maine, Jan. 26, 2021 /PRNewswire/ -- Katahdin Bankshares Corp. (OTCQX: KTHN), parent company of Katahdin Trust Company, a community bank founded in 1918 serving northern Maine and the greater Bangor and Portland regions, has announced fourth-quarter earnings of $3.4 million, or $1.01 per common share. Total assets reached $937.0 million.

"It is remarkable what we have been able to achieve this past quarter," said Jon J. Prescott, Katahdin Trust President and Chief Executive Officer. "Not only did we experience solid financial results, but our team also remains completely dedicated to helping our customers, small businesses, and local communities."

Additionally, the Board of Directors of Katahdin Bankshares Corp. approved a Stock Buyback Program which authorizes the purchase up to $2,000,000 of the Company's outstanding shares of Common Stock over the next 12-month period. Shares may be repurchased by the Company and may be purchased by Katahdin Trust Company's Employee Stock Ownership Plan. Shareholders interested in the buyback program should feel free to contact the Company. 

For more information and to view a copy of Katahdin'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 sixteen banking offices that serve Aroostook, Penobscot, and Cumberland counties. The Bank has nearly 180 employees and, in 2020, was named one of the Best Places to Work in Maine for the third year in a row. Katahdin Bankshares Corp. common stock is quoted on the OTC Markets (OTCQX) under the symbol KTHN and was named to the 2020 OTCQX Best 50, a ranking of top performing companies traded on the OTCQX Best Market. Learn more about the Company and its subsidiary bank at www.katahdintrust.com and follow Katahdin Trust on Facebook, Twitter, LinkedIn, and Instagram.

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SOURCE Katahdin Bankshares Corp.