Maine’s Katahdin Bankshares Reports $2.4 Million Second-Quarter Profit

The company, which operates as the parent for Katahdin Trust Company, reported a cumulative profit of $4.9 million for the first six months of 2026. This period was marked by significant expansion in the bank's lending portfolio, which grew by $47.4 million during the quarter alone. That 5.4% increase pushes the bank's total loan volume to $930.5 million, representing a 9.9% gain compared to the same time last year.

Jon J. Prescott, president and chief executive officer, described the results as a solid performance for the organization. Founded in 1918 and currently operating 16 locations across the state, the bank continues to leverage its community-focused model to sustain growth amidst changing market conditions.