HOULTON – Katahdin Bankshares Corp. (OTCQX: KTHN), parent company of Katahdin Trust Company, a community bank founded in 1918 serving northern Maine and the greater Bangor and Portland regions, has announced that it has been named one of the Top 200 Publicly Traded Community Banks for the second consecutive year.
Katahdin ranked 88th overall. Jon Prescott, president and chief executive officer, stated, “It is truly an honor to lead a Community Bank that has obtained this award. This recognition is a reflection of our financial strength and commitment to the local communities that we serve. This would not be possible without our team of dedicated employees and loyal customers throughout Maine.”
The rating is based on the Bank’s three-year average return on equity. This ratio is utilized in the banking industry to measure a bank’s ability to create profits based on its equity. The review included public banks and thrifts with less than two billion in total assets as of Dec. 31, 2020.
American Banker magazine published the ranking as part of its May issue and can be found online at www.americanbanker.com/data/revenue-drivers-the-top-200-publicly-traded-community-banks.
Founded in 1918, Katahdin Trust is a community bank based in Houlton with more than $941 million in assets that offers financial services to individuals and businesses from 16 branches throughout northern Maine and the greater Bangor and Portland regions with a suite of digital banking solutions. The Bank has nearly 180 employees and, in 2020, was named one of the Best Places to Work in Maine for the third year in a row. Katahdin Bankshares Corp., parent company of Katahdin Trust Company, common stock is quoted on the OTC Markets (OTCQX) under the symbol KTHN. Learn more about the Bank at www.katahdintrust.com and follow Katahdin Trust on Facebook, Twitter, LinkedIn, and Instagram.