Trinity Bank 2013 2nd Quarter Profits up 8.7%
2nd Quarter Earnings per Share up 7.0%; 35th Consecutive Quarter of Profit Improvement
(firmenpresse) - FORT WORTH, TX -- (Marketwired) -- 07/29/13 -- Trinity Bank N.A. (OTCBB: TYBT) today announced operating results for the second quarter and the six months ending June 30, 2013.
For the second quarter of 2013, Trinity Bank, N.A. reported Net Income after Taxes of $700,000, an increase of 8.7% over second quarter 2012 earnings of $644,000. Earnings per diluted common share for the second quarter 2013 amounted to $0.61, an increase of 7.0% over second quarter 2012 results of $.57 per diluted common share.
For the first six months of 2013, Net Income after Taxes was $1,384,000, an increase of 9.4% over the first half of 2012 results of $1,265,000. Earnings per diluted common share for the first half of 2013 were $1.21, an increase of 8.0% over the first half of 2012 results of $1.12 per diluted common share.
President Jeffrey M. Harp stated, "The 8.7% increase in Net Income from the 2Q 2012 represents the first time we have not produced a double digit increase. The culprit continues to be the manipulated interest rate environment and its effect on our investment portfolio."
"We have taken some gains on the sale of securities in the first half of 2013. We have used these gains to bolster our loan loss reserve, to accrue for some expenses we know we will incur over the last half of the year, and to offset some of the decline in investment income."
"On a more positive note, loans are up 9.7%, and the Net Interest Margin increased from 3.41% in 1Q 2013 to 3.63% in 2Q 2013. This is the first significant margin increase in several years. For 2Q 2013, Return on Assets of 1.56% and Return on Equity of 13.76% continue to compare very favorably with local, state, and national peer groups."
Trinity Bank, N.A. is a commercial bank that began operations May 28, 2003. For a full financial statement, visit Trinity Bank's website: Regulatory reporting format is also available at .
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding future financial conditions, results of operations and the Bank's business operations. Such forward-looking statements involve risks, uncertainties and assumptions, including, but not limited to, monetary policy and general economic conditions in Texas and the greater Dallas-Fort Worth metropolitan area, the risks of changes in interest rates on the level and composition of deposits, loan demand and the values of loan collateral, securities and interest rate protection agreements, the actions of competitors and customers, the success of the Bank in implementing its strategic plan, the failure of the assumptions underlying the reserves for loan losses and the estimations of values of collateral and various financial assets and liabilities, that the costs of technological changes are more difficult or expensive than anticipated, the effects of regulatory restrictions imposed on banks generally, any changes in fiscal, monetary or regulatory policies and other uncertainties as discussed in the Bank's Registration Statement on Form SB-1 filed with the Office of the Comptroller of the Currency. Should one or more of these risks or uncertainties materialize, or should these underlying assumptions prove incorrect, actual outcomes may vary materially from outcomes expected or anticipated by the Bank. A forward-looking statement may include a statement of the assumptions or bases underlying the forward-looking statement. The Bank believes it has chosen these assumptions or bases in good faith and that they are reasonable. However, the Bank cautions you that assumptions or bases almost always vary from actual results, and the differences between assumptions or bases and actual results can be material. The Bank undertakes no obligation to publicly update or otherwise revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless the securities laws require the Bank to do so.
Richard Burt
Executive Vice President
Trinity Bank
817-763-9966
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Datum: 29.07.2013 - 12:00 Uhr
Sprache: Deutsch
News-ID 1249643
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