HOULTON, Maine, June 20, 2011 (GLOBE NEWSWIRE) -- Katahdin Bankshares Corp. (OTCQB:KTHN), parent company of Katahdin Trust Company, has been named a Top 200 Community Bank by U.S. Banker magazine, marking the fifth consecutive year the company has been named to the coveted list.
The rating was based on the Bank's three-year average Return on Equity (ROE). The ratio is a common gauge in the banking industry that measures a bank's ability to create profits based on its equity. The review included all community banks and thrift institutions in the nation with assets less than $2 billion.
Jon Prescott, President and CEO of Katahdin Trust Company, said "being named a Top 200 Bank in the United States for the fifth year running is a clear indication of our commitment to solid principles."
"Obviously, this accolade is important to our shareholders and to each customer who enters our bank," Prescott explained. "Given the ongoing challenges of our nation's economy, we have continued to follow stringent fiscal guidelines and exercise a great deal of common sense. And, while recognition is great, the bottom line is that we're operating Katahdin Trust Company in a manner conducive to the financial well-being and trust of our shareholders and customers."
Katahdin Trust Company, established in 1918, provides banking services to individuals and businesses from 16 offices in northern and central Maine, online at www.katahdintrust.com, and operates commercial loan offices in Bangor and Scarborough. Katahdin Trust Company is owned by the one-bank holding company, Katahdin Bankshares Corp. which is quoted on the OTC Markets quote board OTCQB under the symbol KTHN. Current stock information can be found at otcmarkets.com/home.
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