Farmington Bank was in the black at the end of the second quarter, reversing a multimillion loss from a year earlier when the banking company went public.
The company’s net income for the quarter ending June 30 was $831,000, or 5 cents per diluted share, compared to a net loss of $4.6 million a year earlier.
The bank said Monday its increased earnings were largely a result of significant loan and deposit growth in its core central Connecticut market.
The bank’s total loans $89.5 million or 7 percent in quarter compared to the first quarter of 2012.
The bank also announced that it paying a cash dividend of 3 cents per share on June 14.
Farmington Bank’s second-quarter 2011 loss was driven largely by a $6.9 million contribution the bank made to fund the Farmington Bank Community Foundation.
