PRESQUE ISLE – David I. Dorsey, president and CEO of First Citizens Bank, has announced the bank’s board of directors approved a dividend of 20 cents per share on second-quarter earnings at its June 26 meeting. The second-quarter dividend for 2001 reflects an 11 percent increase over the dividend paid for the same period in 2000. The second-quarter dividend is payable July 27 to stockholders of record on July 13.

First Citizens Bank reported net income of more than $390,000 for the six-month period ending June 30. The bank also reported total assets of more than $121 million, an increase of $6.8 million or 5.9 percent, over the second quarter of 2000. Net loans increased $8.2 million or 8.8 percent during the same period, reaching more than $100 million on June 30. Total deposits were $106.8 million, reflecting an increase of $10.5 million, or 10.9 percent.

First Citizens Bank is the only independent community bank headquartered in Aroostook County. The bank has 75 employees and provides financial services to thousands of personal and business customers through full-service offices in Presque Isle, Caribou, Lincoln, Fort Kent and Houlton.