- 2nd Quarter Return on Assets 1.66%
- 2nd Quarter Return on Equity 13.54%
FORT WORTH, TX / ACCESSWIRE / July 28, 2017 / Trinity Bank N.A. (OTC PINK: TYBT) today announced operating results for the second quarter and the six months ending June 30, 2017.
Results of Operation
For the second quarter 2017, Trinity Bank, N.A. reported Net Income after Taxes of $1,016,000, an increase of 5.2% over second quarter 2016 earnings of $966,000. Earnings per diluted common share for the second quarter 2017 amounted to $0.91, an increase of 5.4% over second quarter 2016 results of $0.86 per diluted common share.
For the first six months of 2017, Net Income after Taxes was $1,373,000, an decrease of 28.4% over the first half of 2016 results of $1,918,000. Earnings per diluted common share for the first half of 2017 were $1.22, an decrease of 28.2% over the first half of 2016 results of $1.70 per diluted common share.
President, Jeffrey M. Harp, stated, "After a disappointing first quarter due to a large provision to the loan loss reserve, we are gratified to be back earning a little over $1,000,000 per quarter. There are some positive factors:
1. Loan volume is up 11.4% over 2Q2016.
2. Deposits have increased 13.1% over 2Q2016.
3. Trinity Bank continues to operate very efficiently. It takes us about $.36 in expense to generate $1.00 in revenue. The average bank requires over $.60 in operating expense to generate $1.00 in revenue.
4. Comparative returns for 2Q2017 are favorable.
Trinity Peer
Return on Assets 1.66% 1.04%
Return on Equity 13.54% 9.37%
Challenges persist. The DFW market remains very competitive. We must attract and develop new staff - especially lenders. We are actively working on our one problem credit and have reduced it about 25%.
Trinity Bank operates in a favorable economic environment. We remain committed to producing exceptional results."
To view Trinity's financial tables, please click here.
Trinity Bank, N.A. is a commercial bank that began operations May 28, 2003. For a full financial statement, visit Trinity Bank's website: www.trinitybk.com. Regulatory reporting format is also available at www.fdic.gov.
For information, contact:
Richard Burt
Executive Vice President
Trinity Bank
817-763-9966
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 ithas 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.
SOURCE: Trinity Bank, N.A.