Cape Cod Bank and Trust Company reports earnings, dividend, split.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)--April 11, 1996--Cape Cod 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 symbol CCBT CCBT Comprehensive Cognitive Behavioral Therapy ) reported net income for the quarter ended March 31, 1996 of $2,362,099 or $1.04 per share, compared to $1,732,619 or $.77 per share reported for the first quarter of 1995. Higher earnings were the result of increased net interest income. Total loans of $427.7 million were 19% higher than the year before. Deposits were 25% higher at $569.6 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 $60.3 million was $6.1 million higher than a year earlier, and equal to 8.3% of total assets of $728.9 million. A dividend of $.36 per share was declared payable April 30, 1996 to stockholders of record April 24, 1996. This is a 5.9% increase in the dividend rate. In addition, a 100% stock distribution of one additional share of stock for each share of stock presently owned was declared payable May 10, 1996 to stockholders of record April 24, 1996. -0-
CAPE COD BANK AND TRUST COMPANY
Quarter ended Mar.31 1996 1995 Net Income $2,362,099 $1,732,619 Loan Loss Provision - - Average Shares 2,262,992 2,260,574 Share Earnings: $1.04 $.77 -0- CONTACT: Noal D. Reid 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 508-394-2904 |
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