GREENWICH, Conn. -- Putnam Trust Co., a $678 million-asset bankholding company, reported first-quarter earnings of $2.74 million, a 20% increase over $2.27 million a year ago.
Putnam Trust earned 83 cents per share in the first quarter, up from 71 cents in 1993.
Net interest revenue in the first quarter rose to $7.20 million, up 1.7% from last year's $7.08 million.
Nonperforming assets fell $2.8 million, or 30.5%, to $6.4 million from a year ago.
As a percentage of loans and other real estate owned, nonperforming assets declined to 2.46% from 2.74% at Dec. 31, 1993, and from 3.60% for the previous year.
