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Following the merger, Steven Dimick, president of Randolph National, will be appointed to the NHTB board and Lake Sunapee Bank, NHTB's main subsidiary.
NHTB also said in a press release that Steven Dimick, Central Financial Corporationa[euro](tm)s CEO, will be appointed to its board of directors.
In February, NHTB bought half of the Charter Holding Corp., a non-depository trust company with $1.5 billion in assets under management, from Meredith Village Savings Bank for $6.2 million in cash.
NHTB also said in a press release that Steven Dimick, Central Financial Corporation's CEO, will be appointed to its board of directors.
Stabile II have been appointed to the boards of directors of NHTB and Lake Sunapee.
New Hampshire Thrift Bancshares Inc (NASDAQ: NHTB), the parent company of Lake Sunapee Bank serving west-central New Hampshire and central Vermont, has declared a regular quarterly cash dividend of USD0.13 per share on its common stock.
(NASDAQ: NHTB) reported consolidated net income for the three months ended March 31, 2013, of USD2.1m, or USD0.27 per common share, assuming dilution, compared to USD2.1m, or USD0.31 per common share, assuming dilution, for same period in 2012.
1, The Nashua Bank will merge with and into NHTB's subsidiary bank, Lake Sunapee Bank.
The boards of both companies have approved the agreement, whose terms give shareholders in The Nashua Bank the choice of receiving USD14.50 in cash for each unit they own or 1.136 common NHTB shares.
New Hampshire Thrift Bancshares, Inc (NASDAQ: NHTB), the holding company for Lake Sunapee Bank, fsb, has reported consolidated net income for the nine months ended September 30, 2014 of USD7.2m, or USD0.85 diluted earnings per common share, an increase of 12.00 percent compared to USD6.4m, or USD0.87 diluted earnings per common share for the same period in 2013.
There are no wild swings with NHTB, one of the few locally based banks that is publicly held, The reason that the company's effective tax rate (including deferrals) is slightly lower than the statutory rate (in this case, 34 percent) is because of some tax-exempt income, a deduction on dividends received and some federal tax credits.
(NASDAQ: NHTB) said it has completed its acquisition of The Nashua Bank, expanding the company's presence in southern New Hampshire.
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