Chittenden Corp. of Burlington, Vt., said its second-quarter profits rose 7.6% from a year earlier, to $21 million.
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Earnings per diluted share increased 10%, to 45 cents, Chittenden said Thursday.
The $6.5 billion-asset company, which owns five banks in Vermont, New Hampshire, Maine, and Massachusetts, attributed the profit gains to 8% increases in both total loans, to $4.5 billion, and noninterest income, to $18.5 million.
Also Thursday, Chittenden announced that it plans to buy back 1 million shares of its common stock over the next two years.
Its stock rose 3.5% Thursday, to close at $27.62 a share.
