Cambridge Bancorp Reports Continued Solid Earnings Performance
Cambridge Bancorp Reports Continued Solid Earnings Performance
Cambridge Bancorp (OTCBB: CATC) today reported unaudited net income of $3,176,000 for the second quarter of 2011 compared to $4,678,000 for the same quarter in 2010. The key factor driving the decrease in net income was the sale of the Bank’s Merchant Services portfolio during the second quarter of 2010. The after tax impact on earnings of that sale was $1,591,000 or $0.42 per diluted share.
Published Jul 19, 2011.
Read more: Finanzen.net
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