Cape Cod Bank and Trust reports dividend, 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)--Oct. 12, 1995--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 ) Board of Directors today declared a quarterly dividend of 34 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. payable October 31, 1995 to stockholders of record at the close of business October 24, 1995. This is 21% greater than the dividend of 28 cents per share paid the previous quarter. The bank also reported net income of $1.17 per share for the quarter ending September 30, 1995. This resulted in earnings for the first nine months of 1995 of $2.85 per share, a 26% increase over the $2.27 per share reported for the first nine months of 1994. For the quarter, the Cape Cod Bank and Trust Company again made no provision for loan losses, with a reserve of $11.6 million. Nonaccrual loans totaled $4.6 million and other loans past due 90 days or more totaled $0.1 million. Property from defaulted loans totaled $1.0 million. Total loans of $381 million were 17% higher than the year before. Deposits were 18% higher at $574 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 $57.7 million was 9% of total assets of $641 million, which were 17% higher than a year earlier. -0-
CAPE COD BANK AND TRUST COMPANY
Quarter ended Sept 30 1995 1994 Net Income (Loss) $2,652,506 $2,419,537 Loan Loss Provision - - Average Shares 2,260,561 2,258,145 Share Earnings $1.17 $1.07 Nine months ended Sept 30 1995 1994 Net Income $6,453,648 $5,131,013 Loan Loss Provision - 1,200,000 Average Shares 2,260,566 2,258,150 Share Earnings $2.85 $2.27 CONTACT: Noal D. Reid Cape Cod Bank and Trust Company 508-394-2904 |
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