SBT Bancorp, Inc. announced consolidated unaudited earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported net income of $353,000 or $0.37 basic and diluted earnings per share compared to a net income of $258,000 or $0.26 basic and diluted earnings per share, an increase of $0.11 diluted earnings per share compared to the prior year quarter. The increase in net income is mainly due to a $168,000 increase in mortgage banking activities, and a $121,000 increase in net interest and dividend income. Net interest and dividend income was $2,954,000 against $2,833,000 a year ago. Income before income taxes was $428,000 against $311,000 a year ago.

For the nine months, the company reported total interest and dividend income of $9,318,000 against $9,144,000 a year ago. Net interest and dividend income was $8,714,000 against $8,485,000 a year ago. Income before income taxes was $1,230,000 against $385,000 a year ago. Net income available to common stockholders was $959,000 against $375,000 a year ago. Earnings per common share, assuming dilution were $1.08 against $0.42 a year ago. Return on average assets was 0.34% compared to 0.15% for the nine months ended September 30, 2014. Return on equity was 4.72% compared to 1.59% for the nine months ended September 30, 2014. Tangible book value per common share was $23.58 at September 30, 2015.