Hartford community lender Connecticut Bank and Trust Co. said fourth-quarter earnings fell 19 percent from a year earlier as higher salaries and marketing expenses cut into the bottom line.
CBT earned $188,000, or 2 cents a share, in the final three months of 2010, down from $232,000, or 4 cents a share, earned the same period in 2009.
The bank earned $560,000, or 5 cents a share, in the most recent 12 months, up from $357,000, or a nickel a share, earned in 2009.
CEO David Lentini claimed one of his bank’s biggest achievements was ending 2010 with $22.9 million in additional loans on its books than when the year began.
ADVERTISEMENT
It also finished the year with $274.2 million in assets, up from $260.3 million a year earlier.
