Connecticut Bank and Trust Co. said higher fee and loan income propelled the Hartford small business lender into the black in the fourth quarter.
The bank earned $135,000, or 4 cents a share, in the three months ended Dec. 31, compared to a net loss of $298,000, or 8 cents a share, the same period in 2008.
For the year, CBT earned $174,000, or 5 cents a share, compared to a loss of $2.5 million, or 69 cents a share, a year earlier.
“The financial results for fourth quarter of 2009 show steady positive progress and we remain cautiously optimistic about our prospects for 2010,” said Chairman and CEO David A. Lentini.
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Total assets were $260.3 million at Dec.31.
