Simsbury’s SBT Bancorp Inc. said its fourth quarter profits soared 86 percent, as the company recorded its strongest bottom line ever.
The parent of Simsbury Bank & Trust Co. said Thursday its net income for the quarter ending Dec. 31 was $579,000, or 66 cents per diluted share, compared to $311,000, or 35 cents per diluted share a year earlier.
For the full year the bank earned $1.9 million, or $2.18 per diluted share, compared to $550,000 or 63 cents per diluted share in 2011.
“Strong growth in revenue, loans and deposits combined with continued excellent asset quality produced the best quarter and the best year of earnings in the history of SBT Bancorp,” said SBT Bancorp President and CEO Martin J. Geitz.
