Haverhill Bank this week reported strong financial performance during the first quarter of the year, helping it support a variety of local charities and nonprofit organizations.
Haverhill Bank President and CEO Thomas L. Mortimer said strong core earnings of $973,000 combined with net unrealized gains of $286,000 from its investment portfolio delivered pre-tax earnings of $1,259,000.
"As a depositor-owned institution, Haverhill Bank exists to serve its communities rather than investors. With this guiding principle always in the forefront, the bank was able to share more than $126,000 with local organizations during the same period," Mortimer said.
As of the end of 2022, Haverhill Bank's assets grew about $19 million over 2021, for a total of $558 million.
"Haverhill Bank continues to perform well, and the Bank remains financially sound; and as a reminder, all deposits at Haverhill Bank are insured in full, due to the FDIC/DIF insurance." Mortimer added.