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As of 8:10 PM 03/5/15 All times are local (Market data is delayed by at least 15 minutes).

cambridge bancorp (CATC) Key Developments

Cambridge Bancorp Announces Management Changes

Cambridge Bancorp appointed Denis K. Sheahan as the chief executive officer, from 1 April 2015. Sheahan who will succeed the retiring Joseph V. Roller II, will be formally appointed president, CEO and board chairman at the company's directors meeting on 27 April 2015. Sheahan currently serves as the chief operating officer of Independent Bank Corp. He previously served as chief financial officer for Rockland Trust from May 2000 until assuming the COO role in September 2013.

Cambridge Bancorp Approves Increased Quarterly Dividend, Payable March 30, 2015

Cambridge Bancorp announced that its Board of Directors has approved a 7.1% increase in its quarterly dividend from $0.42 per share to $0.45 per share. The dividend is payable March 30, 2015 to shareholders of record as of March 10, 2015.

Cambridge Bancorp Announces Unaudited Consolidated Financial Results for the Quarter and Year Ended December 31, 2014

Cambridge Bancorp announced unaudited consolidated financial results for the quarter and year ended December 31, 2014. For the quarter, the company reported total interest income of $13.103 million against $12.453 million a year ago. Net interest income after provision for loan losses was $11.968 million against $11.420 million a year ago. Income before income taxes was $5.722 million against $5.419 million a year ago. Net income was $3.866 million or $0.97 per diluted share against $3.639 million or $0.93 per diluted share a year ago. Return on average assets was 0.99% against 0.99% a year ago. Return on average equity was 12.81% against 13.93% a year ago. For the year, the company reported total interest income of $50.371 million against $47.661 million a year ago. Net interest income after provision for loan losses was $46.723 million against $43.967 million a year ago. Income before income taxes was $22.180 million against $21.037 million a year ago. Net income was $14.944 million or $3.78 per diluted share against $14.140 million or $3.62 per diluted share a year ago. Net cash provided by operating activities was $16.101 million against $23.195 million a year ago. Purchase of banking premises and equipment was $33,000 against $5.306 million a year ago. Return on average assets was 0.98% against 0.99% a year ago. Return on average equity was 12.87% against 13.63% a year ago.

Cambridge Bancorp Approves Quarterly Dividend, Payable December 30, 2014

Cambridge Bancorp announced that its Board of Directors has approved a quarterly dividend of $0.42 per share. The dividend is payable December 30, 2014 to shareholders of record as of December 10, 2014.

Cambridge Bancorp Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Cambridge Bancorp reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, net interest income was $12.082 million against $11.503 million a year ago. Income before taxes was $5.873 million against $5.483 million a year ago. Net income was $3.926 million or $0.99 per diluted share against $3.695 million or $0.94 per diluted share a year ago. Return on average assets was 1.02% against 1.03% a year ago. Return on average equity was 13.36% against 14.56% a year ago. For the nine months, net interest income was $37.268 million against $35.208 million a year ago. Income before taxes was $16.458 million against $15.618 million a year ago. Net income was $11.078 million or $2.80 per diluted share against $10.501 million or $2.69 per diluted share a year ago. Return on average assets was 0.98% against 1.00% a year ago. Return on average equity was 12.90% against 13.54% a year ago. Book value per share was $30.07 against $26.72 a year ago. Tangible book value per share was $29.88 against $26.52 a year ago. Net cash provided by operating activities was $88.948 million against $77.500 million a year ago.

 

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