Cambridge: 4Q Earnings Snapshot
CAMBRIDGE, Mass. (AP) _ Cambridge Bancorp (CATC) on Wednesday reported net income of $5.3 million in its fourth quarter.
The Cambridge, Massachusetts-based bank said it had earnings of $1.28 per share. Earnings, adjusted for costs related to mergers and acquisitions, came to $1.32 per share.
The bank posted revenue of $26.4 million in the period. Its revenue net of interest expense was $24.4 million, exceeding Street forecasts.
For the year, the company reported profit of $23.9 million, or $5.77 per share. Revenue was reported as $96.6 million.
Cambridge shares have dropped 12 percent since the beginning of the year. The stock has decreased roughly 5 percent in the last 12 months.