S&P Capital IQ Initiates Coverage on Katahdin Bankshares Corp in S&P Capital IQ Factual Stock Reports

NEW YORK, Oct. 22, 2014 /PRNewswire/ -- S&P Capital IQ (MHFI) announced today that it has commenced Factual Stock Report coverage on Katahdin Bankshares Corp.

Katahdin Bankshares Corp. (KTHN) is the bank holding company for Katahdin Trust Company (the bank), which provides banking services to individuals and businesses from 19 offices throughout Maine and online. The company's 19 offices are located in Ashland, Bangor (two locations), Caribou, Eagle Lake, Easton, Fort Fairfield, Fort Kent, Hampden, Houlton, Island Falls, Limestone, Mars Hill, Oakfield, Patten, Presque Isle, Scarborough, Van Buren and Washburn.

The bank conducts a commercial and retail banking business that includes the acceptance of deposits from the general public and the application of those funds to the origination of a variety of commercial loans, commercial and residential real estate loans and consumer loans. The bank provides a range of business and personal banking services, including checking and savings accounts, money market accounts, certificates of deposits, commercial, mortgage and consumer loans as well as debit cards, telephone banking, ATMs, online banking and bill payment, mobile and text banking, and eCheck Deposit, a service which enables the customer to make deposits electronically from his/her office 24/7.

Securities and insurance products are made available to the bank's customers through a third party registered broker-dealer, with assets under management of $75.4 million as of December 31, 2013.

The bank derives its income primarily from interest and fees earned on loans and investments and service charges and fees on deposit accounts.

The bank serves consumers and small businesses in Aroostook and Penobscot counties and the Scarborough area. The company's Scarborough location also houses Maine Financial Group (MFG), which the bank purchased in 2007. MFG provides equipment financing for individuals and businesses in the trucking, construction, forest products and marine industries throughout northern New England.

As of June 30, 2014, the company's assets totaled $647.1 million and deposits totaled $554.4 million.

Commercial real estate loans represent the largest loan category, accounting for approximately 47% of the loan portfolio as of December 31, 2013. Commercial loans accounted for about 25% of loans at that date, and residential 1-4 family real estate loans about 24%. Other loans, primarily consumer installment loans, represented approximately 4% of the loan portfolio.

On May 5, 2014, the company opened its 19th location at 79 West Main Street in Fort

Kent, Maine. This location marked the bank's third in the St. John Valley area and fully completes its coverage of the Aroostook County market.

On June 27, 2014, Katahdin Bankshares issued 4,000 shares of Series D floating rate non-cumulative perpetual preferred stock to StoneCastle Financial Corp. The net proceeds from the new offering added $9,634,000 of new Tier 1 equity capital to the company.

Katahdin Bankshares Corp. was incorporated in 1986 and its subsidiary, Katahdin Trust Company, was established in 1918. The company is based in Houlton, Maine.

S&P Capital IQ's Factual Stock Report coverage on Katahdin Bankshares Corp will also be accessible on an ongoing basis to the investment community by scores of buy-side institutions and sell-side firms that utilize S&P Capital IQ research and information platforms daily. Millions of self-directed investors also have access to the report via their e-brokerage accounts. Please visit http://www.katahdintrust.com for additional information.

About S&P Capital IQ's Factual Stock Reports

Currently profiling approximately 400 issuers, S&P Capital IQ (MHFI) Factual Stock Reports increase market awareness of issuers in the investment community with insightful commentary, key statistics, and relevant corporate information.  The Reports provide factual research coverage about company fundamentals and business prospects, thereby enabling information on the covered companies to reach a wide spectrum of Buy and Sell-side investors. Updated weekly with the latest pricing, trading volume, and other data, the Reports also capture recent company developments, a financial review, key operating information, industry and peer comparisons, Street Consensus, performance charts, business summary, fundamental data, and timely news stories. Coverage of these reports is underwritten by the issuer, therefore S&P Capital IQ does not offer investment opinions concerning the advisability of investing in these stocks.

S&P Capital IQ Factual Stock Reports are produced separately from any other analytic activity of S&P Capital IQ or related organizations.  S&P Capital IQ does not trade on its own account.

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