NEW YORK, Oct. 22, 2014 /PRNewswire/ -- S&P Capital IQ
(MHFI) announced today that it has commenced Factual Stock Report
coverage on Katahdin Bankshares Corp.
Katahdin Bankshares Corp. (KTHN) is the bank holding company for
Katahdin Trust Company (the bank), which provides banking services
to individuals and businesses from 19 offices throughout
Maine and online. The company's 19
offices are located in Ashland,
Bangor (two locations),
Caribou, Eagle Lake, Easton, Fort
Fairfield, Fort Kent,
Hampden, Houlton, Island
Falls, Limestone,
Mars Hill, Oakfield, Patten, Presque
Isle, Scarborough,
Van Buren and Washburn.
The bank conducts a commercial and retail banking business that
includes the acceptance of deposits from the general public and the
application of those funds to the origination of a variety of
commercial loans, commercial and residential real estate loans and
consumer loans. The bank provides a range of business and personal
banking services, including checking and savings accounts, money
market accounts, certificates of deposits, commercial, mortgage and
consumer loans as well as debit cards, telephone banking, ATMs,
online banking and bill payment, mobile and text banking, and
eCheck Deposit, a service which enables the customer to make
deposits electronically from his/her office 24/7.
Securities and insurance products are made available to the
bank's customers through a third party registered broker-dealer,
with assets under management of $75.4
million as of December 31,
2013.
The bank derives its income primarily from interest and fees
earned on loans and investments and service charges and fees on
deposit accounts.
The bank serves consumers and small businesses in Aroostook and Penobscot counties and the Scarborough area. The company's Scarborough location also houses Maine
Financial Group (MFG), which the bank purchased in 2007. MFG
provides equipment financing for individuals and businesses in the
trucking, construction, forest products and marine industries
throughout northern New England.
As of June 30, 2014, the company's
assets totaled $647.1 million and
deposits totaled $554.4 million.
Commercial real estate loans represent the largest loan
category, accounting for approximately 47% of the loan portfolio as
of December 31, 2013. Commercial
loans accounted for about 25% of loans at that date, and
residential 1-4 family real estate loans about 24%. Other loans,
primarily consumer installment loans, represented approximately 4%
of the loan portfolio.
On May 5, 2014, the company opened
its 19th location at 79 West Main Street in Fort
Kent, Maine. This location
marked the bank's third in the St. John Valley area and fully
completes its coverage of the Aroostook
County market.
On June 27, 2014, Katahdin
Bankshares issued 4,000 shares of Series D floating rate
non-cumulative perpetual preferred stock to StoneCastle Financial
Corp. The net proceeds from the new offering added $9,634,000 of new Tier 1 equity capital to the
company.
Katahdin Bankshares Corp. was incorporated in 1986 and its
subsidiary, Katahdin Trust Company, was established in 1918. The
company is based in Houlton,
Maine.
S&P Capital IQ's Factual Stock Report coverage on Katahdin
Bankshares Corp will also be accessible on an ongoing basis to the
investment community by scores of buy-side institutions and
sell-side firms that utilize S&P Capital IQ research and
information platforms daily. Millions of self-directed investors
also have access to the report via their e-brokerage accounts.
Please visit http://www.katahdintrust.com for additional
information.
About S&P Capital IQ's Factual Stock Reports
Currently profiling approximately 400 issuers, S&P Capital
IQ (MHFI) Factual Stock Reports increase market awareness of
issuers in the investment community with insightful commentary, key
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Updated weekly with the latest pricing, trading volume, and other
data, the Reports also capture recent company developments, a
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advisability of investing in these stocks.
S&P Capital IQ Factual Stock Reports are produced separately
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account.
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