Cambridge Bancorp Announces Third Quarter Results

Business Wire, Oct 17, 2006

CAMBRIDGE, Mass. -- Cambridge Bancorp (OTCBB: CATC) today reported unaudited net income of $2.3 million for the third quarter, representing an increase of $116,000, or 5.3%, over the same quarter in 2005. Diluted earnings per share (EPS) of $0.60 compare with $0.55 a year earlier. For the nine months ending September 30, 2006, unaudited net income was $6.6 million versus $5.6 million for the same period in 2005 - an increase of 17.1%.

Joseph V. Roller II, the Bank's president and CEO, notes, "The current interest rate environment has had a negative impact on many banks' net interest margins. We have been able to offset some of the recent margin pressure through continued growth in the loan portfolio, solid gains in non-interest income and diligent expense management oversight."

Non-interest income of $4.2 million for the September 2006 quarter was $343,000, or 8.9% higher than the same quarter in 2005. For the nine months ending September 30, 2006, non-interest income of $12.1 million was 11.0% higher than the same period in 2005.

Total loans outstanding at the September quarter end were $352 million compared to $333 million at end of last year and $320 million in September 2005.

Total assets at period end were $771 million versus $738 million one year ago and $743 million at the end of 2005.

Cambridge Bancorp and its subsidiary, Cambridge Trust Company, are based in Cambridge, Massachusetts, in the heart of Harvard Square. Cambridge Trust Company is a 116-year-old Massachusetts chartered commercial bank with nine Massachusetts locations in Cambridge, Concord, Lincoln, Weston, and Beacon Hill. Cambridge Trust Company operates one of New England's leading trust and investment management operations with nearly $1.3 billion in assets under management. In addition, Cambridge Trust Company of New Hampshire offers trust and investment management services at two locations: Concord and Exeter. White Mountain Investment, a division of Cambridge Trust Company, is also based in Concord, New Hampshire.

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