PATTEN – Nine-month earnings for the period ending Sept. 30 reached $1,575,000, or $4.46 per share, according to the president and chief executive officer of Katahdin Bankshares Corp., the parent company of Katahdin Trust Co.

“This represents an increase of slightly over 100 percent compared to the same period last year,” said Jon J. Prescott.

Total assets reached a record high at slightly more than $250 million. Total net loans at $146,674,000 represented an increase of 21 percent over the same period last year while deposits and repurchase agreements increased approximately 80 percent to $213,176,000. The bank’s third-quarter dividend of $.27 per share represented an 8 percent increase over the same period last year.

Katahdin Trust Co., with 14 locations in Aroostook and northern Penobscot counties, recently conducted the groundbreaking for a new two-story facility at the corner of North and Main streets in Presque Isle.