Business

Katahdin Trust named a Top 200 Community Bank in the U.S.

HOULTON, Maine – Katahdin Bankshares Corp., parent company of Katahdin Trust Company, has announced that it has been named one of the Top 200 Publicly Traded Community Banks for the second consecutive year, ranking 88th overall. 

Jon Prescott, president and chief executive officer, stated, “It is truly an honor to lead a community bank that has obtained this award. This recognition is a reflection of our financial strength and commitment to the local communities that we serve. This would not be possible without our team of dedicated employees and loyal customers throughout Maine.” 

The rating is based on the bank’s three-year average return on equity. This ratio is utilized in the banking industry to measure a bank’s ability to create profits based on its equity. The review included public banks and thrifts with less than two billion in total assets as of Dec. 31, 2020. 

American Banker magazine published the ranking as part of its May issue and can be found online at www.americanbanker.com/data/revenue-drivers-the-top-200-publicly-traded-community-banks.

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