Hartford-based Connecticut Bank &Trust Company reported a profitable third quarter earning an operating income of $204,000.
That was an improvement over the same time period last year when the bank reported a $1.5 million net loss.
Bank chairman and CEO David A. Lentini said the bank has responded well to the difficult economic conditions of the past 15 months and continues to make funds available to the local market through various loan programs.
“We are focused on proactive monitoring of the loan portfolio and growing core deposits,” Lentini said. “I am pleased that our efforts are now producing profits.”
In April the bank reported its first ever quarterly profit. CBT also has received $5.4 million from the Treasury Department’s Troubled Asset Relief Program.
Shares of CBT traded early this morning at $4.25, up from a $4.20 opening Wednesday.
