Cape Cod Bank and Trust Company reports record earnings and growth.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, 1996--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 symbol CCBT CCBT Comprehensive Cognitive Behavioral Therapy ) reported record earnings per share for the year ended December 31, 1995, of $3.89 compared to $3.41 per share reported for 1994. For the fourth quarter, Cape Cod Bank and Trust Company earned $1.04 per share, compared to $1.14 per share in the fourth quarter of 1994. The Bank made no provision for loan losses in 1995 resulting in a reserve totaling $11.7 million at year end. Total deposits were 22% higher at a record high $569.3 million, an increase of over $100 million from 1994. Loans also increased by 18.6% to a record $411.9 million. Interest on a long due federal tax refund Tax refund Money back from the government when too much tax has been paid or withheld from a salary. also contributed to earnings. 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 $59.6 million was 9.2% of assets which totaled $646.9 million at year end.
CAPE COD BANK AND TRUST COMPANY
Quarter ended Dec.31 1995 1994 Net Income $2,329,669 $2,571,749 Loan Loss Provison - - Average Shares 2,261,038 2,258,782 Share Earnings $1.04 $1.14 Year ended Dec.31 1995 1994 Net Income $8,783,317 $7,702,762 Loan Loss Provison - 1,200,000 Average Shares 2,260,685 2,258,309 Share Earnings $3.89 $3.41 CONTACT: Noal D. Reid Cape Cod Bank and Trust Company, 508-394-2904 |
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