Cape Cod Bank and Trust Company Reports Earnings, Dividend.HYANNIS Hyannis (hīăn`ĭs), resort village (1990 pop. 14,120), Barnstable co., SE Mass., on Cape Cod; inc. 1639. It is the business center and shipping point of the area; major industries are tourism and home construction. , Mass.--(BUSINESS WIRE)--Oct. 8, 1998--The Cape Cod Cape Cod, narrow peninsula of glacial origin, 399 sq mi (1,033 sq km), SE Mass., extending 65 mi (105 km) E and N into the Atlantic Ocean. It is generally flat, with sand dunes, low hills, and numerous lakes. Bank and Trust Company (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CCBT CCBT Comprehensive Cognitive Behavioral Therapy ) reported net income of $.38 per share for the quarter ending September September: see month. 30, 1998. This was 12% greater than the $.34 per share earned during the same period during 1997, after adjustment for the two-for-one stock split made August 7, 1998. This resulted in earnings for the first nine months of 1998 of $1.01 per share compared to $1.05 per share reported for the first nine months of 1997. 1997 earnings included $.12 per share of a settlement from a software provider. Total loans of $590 million were 14% higher than the year before. Deposits were 2% higher at $739 million. Stockholders' equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. of $82.7 million was equal to 6.9% of total assets of $1,200 million. A dividend of $.13 per share was declared payable October 30, 1998 to stockholders of record October 20, 1998. This is equal to the dividend paid during the previous quarter after adjustment for the stock split. The Board of Directors has approved the formation of a bank holding company to provide more flexibility for meeting the future financial needs of the bank and its customers. A special stockholders' meeting has been called for December 4, 1998 for this purpose. -0-
CAPE COD BANK AND TRUST COMPANY
Quarter ended Sept 30 1998 1997
Net Income $3,384,064 $3,035,683
Loan Loss Provision - -
Average Shares 9,061,064 9,061,064
Share Earnings $.38 $.34
Nine months ended Sept 30 1998 1997
Net Income $9,108,030 $9,501,904
Loan Loss Provision - -
Average Shares 9,061,064 9,061,064
Share Earnings $1.01 $1.05
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