Cambridge Bancorp Reports Fourth Quarter Results.CAMBRIDGE, Mass. -- Cambridge Bancorp (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : CATC CATC Cisco Academy Training Center CATC Computer Access Technology Corporation (Santa Clara, CA, USA) CATC Clean Air Technology Center CATC Combined Arms Training Center CATC Calhoun Area Technology Center ) today reported unaudited net income of $2,125,000 for the fourth quarter of 2006, or $0.55 per diluted share, compared with $2,123,000, or $0.53 per diluted share, for the same quarter in 2005. For the twelve months ended December 31, 2006, unaudited net income was $8,680,000 compared to $7,723,000 the prior year, an increase of 12.4 percent. Diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of were $2.24, versus $1.94 in the prior year. Total assets at year-end 2006 were $773 million versus $743 million year-end 2005. Strong loan growth highlighted 2006, with an increase of $23 million, or 7.1 percent, while total deposits remained flat over the prior year. In addition, non-interest income grew by $1,218,000, or 8.3 percent over 2005, driven primarily by wealth management fees. Cambridge Bancorp and its subsidiary, Cambridge Trust Company, are based in Cambridge, Massachusetts This article is about the city of Cambridge in Massachusetts. For the English university town, see Cambridge, England. For other places, see Cambridge (disambiguation). Cambridge, Massachusetts is a city in the Greater Boston area of Massachusetts, United States. , in the heart of Harvard Square. Cambridge Trust Company is a 116-year-old Massachusetts chartered commercial bank with nine Massachusetts locations in Cambridge, Concord, Lincoln, Weston, and Beacon Hill. Cambridge Trust Company is one of New England's leaders in wealth management with $1.3 billion in client assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. . In addition, Cambridge Trust Company of New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). offers wealth management services at two New Hampshire locations, Concord and Exeter. Financial Highlights: [TABLE OMITTED] |
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