Trinity Bank Reports: 2017 First Quarter Net Income Down 62.5%; Dividend Increase 6.5%
(firmenpresse) - FORT WORTH, TX -- (Marketwired) -- 04/26/17 -- Trinity Bank N.A. (OTC: TYBT) today announced operating results for the three months ending March 31, 2017.
Trinity Bank, N.A. reported Net Income After Taxes of $357,000 or $.32 per diluted common share for the first quarter of 2017, compared to $952,000 or $.84 per diluted common share for the first quarter of 2016, a decrease of 61.9%.
President Jeffrey M. Harp stated, "Obviously, the first quarter of 2017 reflects less than satisfactory earnings. As mentioned in previous communications, we have identified a non-performing credit, and for that relationship we made a substantial provision to the Loan Loss Reserve in the first quarter. In spite of this provision ($1,000,000), we were still profitable and we are actively reducing our loss exposure."
"We occupied our newly expanded and renovated facility in January. The staff and our customers are very pleased. You are welcome to come by for a tour."
"Trinity Bank is still enjoying moderate growth in both loans and deposits. Operating efficiency remains excellent. We have had non-performing loans before, and our net loan losses since inception (14 years ago) have been less than $300,000 in total. We look forward to resuming our historical outstanding profitability in subsequent quarters."
"Trinity Bank will distribute its 11th semi-annual dividend on April 28, 2017. The April dividend will be $.49 per share, an increase of 6.5% over the October 2016 dividend of $.46 per share."
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: 26.04.2017 - 14:00 Uhr
Sprache: Deutsch
News-ID 1500732
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Retail Banking
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