Trinity Bank 2016 2nd Quarter Net Income Up 4.8%; 2nd Quarter Earnings per Share Up 6.2%
(firmenpresse) - FORT WORTH, TX -- (Marketwired) -- 07/26/16 -- Trinity Bank N.A. (OTC: TYBT) today announced operating results for the second quarter and the six months ending June 30, 2016.
For the second quarter 2016, Trinity Bank, N.A. reported Net Income after Taxes of $966,000, an increase of 4.8% over second quarter 2015 earnings of $922,000. Earnings per diluted common share for the second quarter 2016 amounted to $0.86, an increase of 6.2% over second quarter 2015 results of $0.81 per diluted common share.
For the first six months of 2016, Net Income after Taxes was $1,918,000, an increase of 6.1% over the first half of 2015 results of $1,807,000. Earnings per diluted common share for the first half of 2016 were $1.70, an increase of 6.2% over the first half of 2015 results of $1.60 per diluted common share.
President Jeffrey M. Harp stated, "Second quarter results for Trinity Bank represent the second best quarter (4Q 2015 was slightly better) since inception. However, the percentage increase (+4.8%) in Net Income over the 2Q 2015 results is below our previous history of double digit increases. This is due to:
1. Average loan volume dropped about 5% from 4Q 2015 to the current quarter. We haven''t lost any major relationships. A number of customers have reduced their debt to the bank.
2. Interest expense has increased substantially as we have raised deposit rates since October 2015. Our philosophy is to pay as much as we can instead of as little as we can get by with.
3. Personnel expense is up as we add staff in preparation to move into our newly expanded facility.
In spite of these headwinds, Trinity Bank is still performing at a very high level.
The remainder of 2016 as well as 2017 will be challenging as the Texas economy adjusts to the current level of oil and gas prices, but we remain committed to producing exceptional results.
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
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 26.07.2016 - 10:35 Uhr
Sprache: Deutsch
News-ID 1449042
Anzahl Zeichen: 2210
contact information:
Contact person:
Town:
FORT WORTH, TX
Phone:
Kategorie:
Retail Banking
Typ of Press Release:
type of sending:
Date of sending:
Anmerkungen:
Diese Pressemitteilung wurde bisher 324 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Trinity Bank 2016 2nd Quarter Net Income Up 4.8%; 2nd Quarter Earnings per Share Up 6.2%
"
steht unter der journalistisch-redaktionellen Verantwortung von
Trinity Bank (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
