Bank Notes
Earnings Increase 50%.
At $177,564, net income after tax for the second quarter of 2003 was up 50% vs. the second quarter of 2002. Earnings per share, at $0.18 were also up 50% vs. the same period last year. For 6 months, net income after tax was $278,685, up 37% compared to last year. Diluted earnings per share were $0.28 or 33% higher than for the first six months of 2002.
Increase your deposits to raise your interest.
With a Rewards BankingSM account, your interest rate rises each time your balance reaches a higher tier. Customers may convert from other CBT checking accounts to Rewards Banking without changing checks or account numbers. Call or come in to learn more about all the benefits of Rewards Banking.
Campbell joins board of directors.
Thomas A. Campbell, Executive Vice President, Trust, has been elected to the Board. Joining the bank in 1999, Tom has led the growth and success of the bank's asset management, trust and corporate services business. Tom's 30-plus years of banking experience will be of considerable value to the Board. Jerold B. Smith has retired from the Board after many years of service. In recognition of his contributions, he has been elected an honorary director.
Our Large Cap Growth Equity Portfolio outperforms the S&P 500.
Our asset management staff ( including 17 professionals with an average of 20 years of experience) invests for the long term in issues of high quality U.S. companies concentrated in industry sectors having positive secular trends. Over the past 5 years, the Large Cap Growth Portfolio has shown investment returns greater than the S&P 500. For a look at the numbers, contact Amy Brown, Trust Officer, at (302) 888-7740.
Imaginative loans, done quickly.
Our lending officers excel in proposing funding solutions for unique situations, providing customized rates and terms, and fast responses. Examples include a construction loan for a $1 million-plus residence, funds for the build-out of a state-of-the-art fitness facility and financing for physicians opening a second office. Direct your inquiries to Bob Dunn, Vice President, (302) 888-7408.
The more it rains, the more (umbrellas) we lend.
During the past 3 very wet months, customers have been flocking to the umbrella stand in our lobby to borrow our Rainy Day Umbrellas. We hope the rains let up-but be assured that should they continue, we have a sufficient supply of umbrellas to keep you dry.
Our Stock symbol: CBTD.
Quotations can be found on the OTC Bulletin Board.