Cape Cod Bank and Trust Company Reports Earnings.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)--Jan. 29, 1999--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 earnings for the year ended December December: see month. 31, 1998, of $1.39 per share compared to $1.46 per share reported for 1997. For the fourth quarter, the Bank earned $.38 per share, compared to $.41 per share in the 1997 fourth quarter. 1997 earnings included an after-tax gain of $.12 per share from a settlement with a software provider during the first quarter and $.14 per share from the sale of the Bank's credit card portfolio in the fourth quarter. The Bank made no provision for loan losses in 1998 resulting in a reserve totaling $11.1 million at year end. Total deposits were 3% higher at $728 million. Loans increased by 15% to $612 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 $83.5 million was 7.1% of assets which totaled $1.177 billion at year end. -0-
CAPE COD BANK AND TRUST COMPANY
Quarter ended Dec.31 1998 1997
Net Income $3,448,916 $3,746,632
Loan Loss Provision - -
Average Shares 9,061,064 9,061,064
Basic Earnings Per Share $.38 $.41
Diluted Earnings Per Share $.37 $.41
Year ended Dec.31 1998 1997
Net Income $12,556,946 $13,248,536
Loan Loss Provision - -
Average Shares 9,061,064 9,061,064
Basic Earnings Per Share $1.39 $1.46
Diluted Earnings Per Share $1.38 $1.46
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