Cambridge Bancorp (CATC) Tops Q1 EPS by 10c

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Go back to Cambridge Bancorp (CATC) Tops Q1 EPS by 10c

Cambridge Bancorp Announces First Quarter 2020 Earnings and Declares Dividend

April 22, 2020 8:00 AM EDT

CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Cambridge Bancorp (NASDAQ: CATC) (the Company), the parent company of Cambridge Trust Company (the Bank), today announced unaudited net income of $7,232,000 for the quarter ended March 31, 2020, an increase of $1,034,000, or 16.7%, compared to net income of $6,198,000 for the quarter ended March 31, 2019. Diluted earnings per share were $1.33 for the first quarter of 2020, representing a 10.7% decrease over diluted earnings per share of $1.49 for the same quarter last year.

Excluding non-operating expenses, operating net income was $7,434,000 for the quarter ended March 31, 2020, an increase of $1,108,000, or 17.5%, compared to operating net income of $6,326,000 for the quarter... More