Hartford lender Connecticut Bank & Trust Co. landed a second-quarter profit, reversing a loss for the period a year ago.
CBT earned a pre-dividend $261,000, or a nickel a share, in the three months ended June 30, compared to a loss of $106,000, or 4 cents a share, the same period last year.
Chairman David A. Lentini said it was positive that the bank has now posted four consecutive profitable quarters “in the midst of extended financial difficulties in Connecticut and the rest of the country.”
Nonperforming assets — comprised of loans past due and collateral seized from defaulted borrowers — grew to 2 percent at June 30 from 1.7 percent the same date last year.
CBT ended the second quarter with $267.5 million in assets, up from $266.7 million a year ago.
