SBT Bancorp, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net income of $350,000 or $0.36 basic and diluted earnings per share compared to a net income of $115,000 or $0.10 basic and diluted earnings per share, an increase of $0.26 diluted earnings per share compared to the prior year quarter. The increase in net income is mainly due to a $227,000 increase in mortgage banking activities, an $118,000 increase in net interest and dividend income, and a $50,000 decrease in non-interest expense. Total interest and dividend income was $3,101,000 against $3,004,000 a year ago. Net interest and dividend income was $2,894,000 against $2,776,000 a year ago. Net interest and dividend income after provision for loan losses was $2,864,000 against $2,776,000 a year ago. Income before income taxes was $404,000 against $65,000 a year ago. Net income available to common stockholders was $316,000 against $89,000 a year ago. Total revenues, consisting of net interest and dividend income plus noninterest income, were $3,700,000 compared to $3,400,000 a year ago, an increase of $319,000 or 9.4%.

For the six months, the company reported total interest and dividend income of $6,182,000 against $6,106,000 a year ago. Net interest and dividend income was $5,781,000 against $5,663,000 a year ago. Net interest and dividend income after provision for loan losses was $5,701,000 against $5,633,000 a year ago. Income before income taxes was $803,000 against $74,000 a year ago. Net income available to common stockholders was $633,000 against $142,000 a year ago. Earnings per common share, assuming dilution was $0.71 against $0.16 a year ago. Total revenues were $7,100,000 compared to $6,800,000 for the six months ended June 30, 2014, an increase of $337,000 or 5.0%.