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SBT Bancorp, Inc., (OTCBB: SBTB), holding company for Simsbury Bank
Trust Company (the Bank), today announced net income of $87,000 or $0.03
per common diluted share for the first quarter of 2011. Net income for
the quarter was impacted by a one-time charge related to the Bank’s
formation of a Passive Investment Company (PIC). Excluding this one-time
charge, net of a favorable income tax adjustment, net income would have
been $259,000 or $0.23 per common diluted share. This compares to
$243,000 or $0.21 per common diluted share for the first quarter of
2010. Total assets were $325 million on March 31, 2011 compared to $283
million on March 31, 2010, an increase of $42 million or 15%.
Total deposits on March 31, 2011 were $299 million, an increase of $45
million or 18% over a year ago. Core deposits (Demand, Savings and NOW
accounts) increased by $44 million or 25% while Time Deposits increased
by $1 million or 1%. An increase in deposits from municipalities was a
significant contributor to the growth in total deposits. At quarter-end,
19% of total deposits were in non-interest bearing demand accounts, 55%
were in low-cost savings and NOW accounts, and 26% were in time deposits.
Penny Stocks are stocks traded for under $2 and they represent the small cap companies. They trade on the OTCBB so you will not find them on the major stock exchanges. They are very cheap stocks and normally come for businesses needing capital. They are a very risky investment as the business can go under and leave you with a stock worth nothing. However that being said penny stock trading can be a great money maker, and there are numerous traders who make 6 figures and more from them each year.
The best reasons to trade in penny stocks are the fact that they do not require a large initial investment, meaning that they are an affordable investment for many. Penny stocks are cheap. For example if you were to buy 1000 shares in a company with shares at 10 cents, you would only require an investment of $100, whereas if the shares cost $5 you would require an investment of $5000. Penny stocks also have the potential of huge gains, and have been known to rise as much as 1000% daily. Therefore your $100 investment can be worth $1000. This is very unlikely to happen to other stocks from large cap businesses.