February 25, 2010
Rollstone Profit Up To $2.6M In 2009
By Matthew L. Brown
Rollstone Bank & Trust of Fitchburg turned a profit of $2.6 million in 2009, a $900,000 increase over the previous year.
The bank's assets increased by $20.6 million, or 4.5 percent, to $482.6 million and it loaned $316.5 million compared to $301.5 million the year before.
Martin F. Connors Jr., the bank's president and CEO, said the bank's success through 2009 was due to sound judgment, sticking to "traditional banking principles" and also "some good luck."
Loan delinquencies finished the year at 1.72 percent and the bank is considered "well capitalized."
Rollstone has seven offices in Fitchburg, Leominster, Harvard and Townsend.
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