Cortland Bancorp Reports Fourth Quarter and Year to Date 2010 Earnings
Cortland Bancorp (the “Company;” OTCBB: CLDB) announced today it’s
quarter and year end results for the period ending December 31, 2010.
The Company reported net income of $1.036 million or $0.23 per share for
the quarter ending December 31, 2010. This compares to a net income of
$17,000 for the quarter ending September 30, 2010 and net income of
$643,000 or $0.14 per share for the same period in 2009.
For the year ending December 31, 2010, the Company reported net income
of $3.271 million or $.72 per share, compared to a net loss of $(6.335)
million or $(1.40) per share for year ended December 31, 2009.