Cortland declares 5-cent dividend


July 29, 2014 at 12:00a.m.

Cortland declares 5-cent dividend

CORTLAND

Cortland Bancorp, the holding company for Cortland Savings and Banking Co., declared a quarterly cash dividend of 5 cents per share.

The dividend will be payable Aug. 28 to shareholders of record as of the close of business Aug. 11.

Cortland earnings increase 30 percent

cortland

Cortland Bancorp today reported earnings increased 30 percent to $1 million, or 23 cents per share, compared with $799,000, or 18 cents per share, for the second quarter of 2013.

For the first six months of 2014, net income increased 46 percent to $2.4 million, or 52 cents per share, from $1.6 million, or 36 cents per share, for the six months of 2013.

Staff reports