Martin F. Connors, Jr., President & CEO of Rollstone Bank & Trust
November 4, 2020
Rollstone Bank reports 12.1% increase in assets
Rollstone Bank & Trust of Fitchburg reported $769.9 million in assets for its fiscal year ending June 30, a 12.1% increase from the previous year, according to a press release Wednesday detailing the bank’s annual meeting.
The bank reported a net income of $2.9 million for the year.
“RBT has a long history of managing our business in a safe and sound manner and this year was no exception,” said President and CEO Martin Connors, in a statement.
The bank’s wealth management division boasted a 5.3% increase in assets year-to-year, reporting $161.6 million in the last fiscal year.
Insofar as the coronavirus pandemic impacted financials, the bank reported overseeing $38.2 million in federal Paycheck Protection Program loans, and provided $30,000 in pandemic relief efforts to nonprofits around the region, according to Rollstone. It also awarded over $150,000 through its charitable foundation.
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